Eagle Property Capital Investments, LLC (EPC), a vertically integrated real estate investment manager focused on the value-add multifamily space, announced the disposition of Colinas Ranch Apartments, a 160-unit apartment community, located in Irving northwest of Dallas-Fort Worth, Texas. The Property was acquired by EPC Multifamily Partners IV, LLC (Fund IV) and RealtyMogul 89, LLC in October 2018.
Colinas Ranch Apartments, located at 3203 W Walnut Hill Lane in Irving, was built in 1971. EPC successfully implemented a thorough repositioning strategy that substantially improved the profitability of the value-add property. The strategy included upgrading the apartment interiors, existing common areas and amenities, adding new amenities and services as well as implementing water and energy conservation programs. In addition, the property benefited from operating efficiencies that reduced controllable expenses by being operated together with Grand Riviera, a neighboring property.