ANCRE Group represented the buying group that acquired the Oasis Apartments in Denton, TX. ANCRE identified the property as an opportunity to renovate the property, with significant upside in rental rate increases compared to the neighborhood through a rent comparison and neighborhood analysis. 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. ANCRE continually kept the deal together from the initial offering through the due diligence period, which was challenging due to the property’s condition, but both sides had common goals and closed the deal with everyone being satisfied.
See some of the Oasis Apartments images before renovation below. Or you can view images of the place after renovation here
Click on the images to zoom.