Crenshaw Grand
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Property Overview
The Opportunity
Crenshaw Grand was the off-market acquisition of a fully stabilized 264-unit, garden style apartment community at the intersection of the supply-constrained Pasadena and Clear Lake submarkets in Houston, TX. BCP acquired the property, developed in 2015, at a significant discount to prior area sales and replacement cost thanks to an accretive loan assumption of the seller’s in-place Freddie Mac loan and BCP’s existing relationship with the in-place property management company.
Competitive Advantage
Lessons Learned
Property Location
Documents & Financials
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Investment Summary
Property Type:
Multifamily
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Strategy:
Core-Plus
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Address:
5400 Crenshaw Road, Pasadena, TX 77505
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Investment Date:
July 24, 2024
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Investor Preferred Return:
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Property Type:
Multifamily
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Strategy:
Core-Plus
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Address:
5400 Crenshaw Road, Pasadena, TX 77505
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Investment Date:
July 24, 2024
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Disposition Date:
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Property Type:
Multifamily
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Strategy:
Core-Plus
N/A
Address:
5400 Crenshaw Road, Pasadena, TX 77505
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Investment Date:
July 24, 2024
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Disposition Date:
N/A
Hold Period:
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Total Capitalization:
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Loan To Cost Ratio:
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Realized Investor Return:
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