Granada Apartments

ANCRE Group represented the buying group that acquired the 60-unit Granada Apartments in Dallas, TX. ANCRE identified the off-market property as an opportunity to renovate, with significant upside in rental rate increases compared to the neighborhood. ANCRE completed a rent study for renovated properties versus typical vintage rental rates. Then completed a renovation feasibility, and estimated as complete pricing to determine the return on investment for the buying group. The negotiations and due diligence period was demanding due to the property’s condition, but both sides had common goals and ANCRE continually kept the deal together through interest-based negotiations.