Villas del Sol Apartments
Villas del Sol was purchased off-market along with Wedgewood in January 2015 by a local Dallas investment group. Catalyst was hired as the property management company. A $326,000 ($3,100 per unit) renovation program commenced at takeover and included: upgrading 50% of the unit interiors, remodeling the office, making the mechanical systems more energy efficient (HVAC, water heaters, plumbing, water conservation) and improving the curb appeal.
Through the first 9 months of ownership Catalyst Multifamily Management has kept the property 90%+ occupied during the renovation and the ownership group has been able to take draws every month.