Wedgewood Apartments

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    Wedgewood Apartments

    Wedgewood was purchased off-market along with Cinnamon Tree in January 2015 by a local Dallas investment group.  MBP Capital joined as a passive investor and was hired as the property management company.  A 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.