The Landing
The Landing at Pinewood Park is a 228-unit, class C multifamily property in Lubbock, Texas. A local family business neglected the property, running it for low cost, rather than high returns.
Location
The asset is situated in a solid, middle-income neighborhood at a high-traffic intersection right next to national retail names including McDonalds, Papa Johns, and Walgreens.
Background
A local family business neglected the property, running it for low cost, rather than high returns. The resulting accumulated capital needs and weak property performance present a compelling value-add opportunity.
Business Plan
Lone Star will address major physical needs and improve curb appeal, while also implementing management best practices to drive leasing and raise net income. In addition to improving curb appeal, a modest interior renovation program will allow us to bring rents up to market rates as well as maximize occupancy.
