Oasis Springs Apartments
The principals of Catalyst partnered with a repeat client for the purchase of Oasis Springs (formerly Sutton Square) in April 2015. The client previously worked with Catalyst on a separate property in Hurst, TX which was a colossal success. On the first property the client used our buyer’s brokerage and listing brokerage services along with property management and renovation management. The client more than doubled their initial equity in 32 months and was in a 1031 exchange.
MBP Capital represented the client in their 1031 exchange and came in as a deal sponsor alongside the client. Catalyst Multifamily Management is managing the property and overseeing the $1,025,000 ($6,700 per unit) renovation that will take the property from a C+ Class asset to a B+ Class asset. The renovation will include: full interior upgrade including kitchen appliance packages, installing a splash pool, office remodel, enhancing curb appeal and improving the energy efficiency of the mechanical systems. We expect Oasis Springs to be the nicest property in the submarket and command the highest rents.