Last week was an exciting time for us. In case you missed the exciting news, we closed on 51TEN Townhomes and hosted a webinar for our new San Antonio offering. We have had many requests for a San Antonio opportunity and we listened. Initially, we planned to present information on the Seville during the webinar. However, just days before the webinar we were presented with the opportunity to purchase a property we had previously bid on. This new and exciting news allowed us to announce that the offering for the Seville will now be a San Antonio 2 Property Portfolio! These communities are located in the same submarket, just minutes from our REEP Headquarters. Both charming communities benefit from being in the #1 ranked North Central San Antonio Submarkets and from the prestigious NEISD school district. We will host an expanded portfolio webinar later this month on June 29th. More details are provided below and we hope you will join us for the webinar to learn more about this exciting opportunity.
In May, we hosted a REEP networking event in Dallas to kick off our 10th Anniversary celebration. Thank you to all who attended. It was great getting to see each of you. We will be hosting additional events in Austin and San Antonio later this year. Please stay tuned for more information on these events coming soon!
Thank you for being a part of our REEP Network. We hope you find these company updates helpful. We value you and your continued trust in us.
Sincerely,
Jacob and Arleen Garza
Thank you to everyone who joined us for the Dallas 2022 Outlook and Networking Event!
You can view pictures from the event at this link! We hope you like how your picture turned out! Stay tuned for details on our next event coming soon!
Property News
We closed on Smoketree Townhomes – now renamed 51TEN Townhomes!
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Smoketree Townhomes is a 256-unit value-add property in fast-growing Northwest Houston. Smoketree Townhomes is located in the well-regarded Willowbrook/Champions submarket of Houston, a submarket in which REEP has already seen success with two other value-add assets within our portfolio.
Built in 1984, Smoketree Townhomes consist largely of classic units, with only 19 of 256 units or 7% featuring light upgrades. Leading up to closing our teams have been busy planning. The new branding, sign package, website, and marketing materials are on-site and in use. Once again, we are promoting from within and placing one of our REEP stars at this property to seamlessly bring Smoketree into the portfolio. Our CapEx manager is ready to get started. All of the materials have been ordered and all of the bids are in. We have already begun transforming Smoketree into the new 51TEN Townhomes REEP property. Stayed tuned to your email and social media for details on this exciting transformation.
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NEXT UP – SAN ANTONIO!
Register Now for the San Antonio 2 Property Portfolio Webinar!
The San Antonio 2 Property Portfolio
Originally, we had planned to present Seville Apartment Homes, our latest investment offering to our Investor Network. However, our decades of relationships with brokers has proven to be important as an off-market property has come our way. We will be packaging these two properties together in a portfolio offering, which will be exclusively offered to our REEP Investor Network later this month. If you have never invested with REEP before or have someone who would benefit from passively investing in mutifamily, stay tuned as our next blog will cover exactly how easy it is to invest with REEP!
Want more updates? Follow us on your Favorite Social Media Channel!
We love to share progress photos of how the properties are doing on our Social Media Channels. Our Capex Manager is making amazing strides across the portfolio to implement the business plan. New Paint at Archer! New Pool furniture at Chartwell! New Pool and patio makeover at Flint! Don’t miss out on these exciting updates. Follow us today on your favorite media channel to receive up-to-the-minute news on the properties!
One of our greatest strengths is our vertical integration. We hope you enjoy learning more about what is going on behind the scenes and join us in congratulating April’s top performers.
Across the portfolio, we are continually seeing over 95% occupancy and record-breaking renewal numbers.
OCCUPANCY
2022 Investment Opportunities are around the corner!These opportunities are announced exclusively to our Investor Network email list. If you are not sure if you are on this exclusive list, please email us and we can confirm your subscription. With each new opportunity, we will walk through what makes the property unique and our improvement strategy for how we will impact the bottom line. You will find this information through the property’s executive summary and in the webinar. If you have any questions or would like to join our investor network, please click on these links.
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