LOS ANGELES, CA--(Marketwired - Sep 29, 2015) - Paladin Preferred Capital (PPC), an affiliate of BRC Advisors, today announced its fourth acquisition in the Dallas area: the 134-unit Villa France Apartment complex in Irving, Texas. Paladin used Realty Mogul, which Crowdfunded a portion of the deal for the $6.2 million property. The property has an FNMA assumption at 4.28% with nine years remaining.
Located south of I-183 and the master planned community of Las Colinas, Villa France Apartments is centrally located between Dallas and Fort Worth. It offers affordable rental units with large one, two and three bedroom floorplans and a strong amenity package which includes a playground area, swimming pool and community barbecues. The property is well occupied and has a larger average unit size than many similar buildings in the area. While 35 percent of the units at the property have been upgraded, the sponsor plans to complete renovations on the additional 87 units to optimize rental rates.
Ken Chong, Director of Capital Markets for Paladin, points out the advantageous location stating, "In addition to the 2,000 companies located in Las Colinas, many of which are Fortune 500 headquarters and regional offices, Villa France is within a five-mile radius of numerous centers of employment that include the Irving Mall, Baylor Medical Center - Irving, DFW International Airport and the Irving Convention Center."
Paladin President George Lintz adds, "This investment adds to our portfolio of stable, cash-flowing properties, well located in solid working class neighborhoods. Villa France Apartments is well suited to our overall strategy of purchasing properties in strong economic settings with below market rents and upside potential without requiring major repositioning or capital expenditures."
Los Angeles-based Paladin Preferred Capital, LLC is a private equity firm specializing in the acquisition, management and re-positioning of carefully selected, value add commercial and multifamily real estate. Paladin is a subsidiary of Los Angeles based BRC Advisors, Inc., a well-recognized, fully integrated real estate company with 100+ commercial agents, as well as vertically integrated property management and leasing divisions.
Paladin's affiliation with BRC Advisors has created a powerful alliance with access to deal flows all over the country, along with shared resources to properly underwrite deals and maximize profit while remaining fully compliant.
For more information, please visit: www.paladinpref.com or www.brcadvisors.com.
Contact Information:
Media Inquiries, please contact:
Paladin Preferred Capital President:
George Lintz:
(213) 226-8721
Paladin Director of Capital Markets:
Ken Chong
(213) 226-8702
