Completed
Austin, TX
SoLa City Homes
Click to view all photos
No items found.
Property Overview
The Opportunity
Negotiating a short sale/note purchase for a non-performing development loan from Royal Bank of Canada "RBC". The loan was collateralized by a partially completed townhome condominium project called Sola City Homes in Central Austin. The project is located in the eclectic South Lamar area. The 47 townhome lots were fully permitted with the vast majority of infrastructure in place and included an additional 7 unsold completed units. Immediately sold the completed units and continued to build and sell the remaining undeveloped units.
Competitive Advantage
Lessons Learned
Property Location
Documents & Financials
No items found.
Related Articles
No items found.
Investment Summary
Property Type:
Townhome Development
N/A
Strategy:
Loan Purchase Townhome Development
N/A
Address:
2520 Del Curto Rd, Austin, TX 78704
N/A
Investment Date:
June 1, 2011
N/A
Est. Hold Period:
2.3 Years
N/A
Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Est. Exit Cap Rate:
N/A
Investor Preferred Return:
N/A
Property Type:
Townhome Development
N/A
Strategy:
Loan Purchase Townhome Development
N/A
Address:
2520 Del Curto Rd, Austin, TX 78704
N/A
Investment Date:
June 1, 2011
N/A
Disposition Date:
October 1, 2013
N/A
Hold Period:
2.3 Years
N/A
Realized IRR:
56.10%
N/A
Equity Multiple:
2.35 X
N/A
Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Exit Cap Rate:
N/A
Realized Investor Return:
N/A
Property Type:
Townhome Development
N/A
Strategy:
Loan Purchase Townhome Development
N/A
Address:
2520 Del Curto Rd, Austin, TX 78704
N/A
Investment Date:
June 1, 2011
N/A
Disposition Date:
October 1, 2013
N/A
Hold Period:
2.3 Years
N/A
Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Cap Rate at Close:
N/A
Realized Investor Return:
N/A
Residential
Algarita Lakeside
San Antonio, Texas
Value-Add Multifamily Acquisition of 293-units from distressed Tenant-In-Common "TIC" partnership.
Residential
Property Type:
Multifamily
N/A
Property Type:
Multifamily
N/A
Property Type:
Multifamily
N/A
Land
Govalle
Austin, TX
Acquisition 2+ acres in East Austin to subdivide into single-family lots.
Land
Property Type:
Land
N/A
Property Type:
Land
N/A
Property Type:
Land
N/A
Land
12th & Hargrave
Austin, TX
Acquired 5.78 acres at a foreclosure auction in East Austin for future townhome development.
Land
Property Type:
Land
N/A
Property Type:
Land
N/A
Property Type:
Land
N/A
%20Large.jpeg)
Land
Decker
Austin, TX
Acquired 58 acres off Decker Lane in East Austin. The acquisition was part of a land assemblage with multiple sellers. During entitlement, we subdivided the land selling a tract to our northern neighbor and retaining ownership of an industrial tract, and 20 acre multifamily tract.
Land
Property Type:
Land
N/A
Property Type:
Land
N/A
Property Type:
Land
N/A
%20Large.jpeg)
Land
NB North
New Braunfels, TX
Off-market acquisition of 22.13 acres of fully entitled land for future multifamily.
Land
Property Type:
Land
N/A
Property Type:
Land
N/A
Property Type:
Land
N/A
%20Large.jpeg)
Land
Johnny Morris
Austin,TX
Acquisition of 22.13 acres zoned Light Industrial. We were able to rezone to Multifamily within 6 months of acquisition. We are currently joint venturing to develop a 375-unit multifamily community.
Land
Property Type:
Land
N/A
Property Type:
Land
N/A
Property Type:
Land
N/A
Have questions? Our team is here to help
Schedule an introductory call with BCP's executives to align your investment goals with tax-efficient and profitable strategies.
