Southwest Regional Office
“Upon completion of Greystar’s extensive renovation plan, Waterford Place will offer a highly competitive product in its neighborhood. This value-add play will help to fill a market need for good quality, renovated in-fill multifamily product near the CBD that is more affordable than new construction. The immediate area has solid demographics with an average household income of $80-90,000. In addition, the property’s family oriented unit mix, coupled with its location in a strong school district, should continue to help drive occupancy in the future. We are thrilled to be working again with Greystar, a market leader in the multifamily space.”
— Scott Portnoy, Director
- Attractive value add property that will be highly competitive within its competitive set upon completion of the renovation work ($21,000/unit renovation investment)
- Opportunity to build on an existing relationship
Source: REI Southwest Regional Office, May 2018.