Cooks Creek Apartments
Cooks Creek was purchased in March 2014 by a local Dallas group and an investor out of California. Immediately after acquisition a renovation program commenced. The property required major foundation repair for which management had to vacate buildings while the repairs took place.
Catalyst Multifamily Management was able to keep occupancy stable through moving residents around during the foundation repair. The foundation repair work is now complete and the property is fully leased-up. The ownership group was able to receive the budgeted equity draws every month including during the foundation repair.