Submarket: Orlando, FLNo. of Units: 216Square Footage: 214,096Asset Type: MultifamilyDate Acquired: Under Contract
Built in 2015, Sonoma Pointe is a 216-unit property located in the Hunters Creek submarket of Orlando, Florida. All the units already include stainless steel appliances, granite countertops, washer and dryers, vinyl plank flooring, and USB Outlets.ZMR as part of the renovation schedule plans to repaint cabinets, install gooseneck faucets and add tile backsplash.
Submarket: Tampa, FLNo. of Units: 125Square Footage: 105,600 SFAsset Type: MultifamilyDate Acquired: December 2021Built in 1981 Palms at Palisades is a property located in the Tampa submarket of Brandon Florida. Currently, 73 units have been renovated and are below market rents, ZMR plans to bring the property to market along with continuing the in-place value add program across all units. The property features a favorable unit mix with 76% of the unit being 2 or 3 bedroom units. The property has low density and provides tenants with multiple amenities and is located in close proximity to several financials
and insurance companies along the I-75 corridor including Citibank, USAA, JPMorgan, and Ford Motor Credit. The job growth in these industries has fueled local housing demand.
Submarket: Tampa, FLNo. of Units: 160Square Footage: 156,590 SFAsset Type: MultifamilyDate Acquired: December 2021Built in 1974, Brandon Oaks is a property located in the Tampa submarket of Brandon, Florida. The property presents an opportunity to renovate 100% of the units as there is no renovation program currently in place. ZMR plans to bring the property to market along with implementing a value-add program across 50% of the units along with standardizing W&D connections and appliances in 95 of the units.
Submarket: Dallas, TX
No. of Units: 440Square Footage: 356,954 SFAsset Type: MultifamilyDate Acquired: November 2021
Pecan Square is located in Northwest Dallas and is 5.3 miles away from the Dallas Love Field Airport, Dallas’ only urban airport employing 8,600 people on-site and serving 14.5 million passengers per year. The surrounding area is experiencing a revitalization. Currently, the $200 million West Love Development is slated to deliver 200,000 square feet of office, 65,000 square feet of retail, and a 244-room hotel. The $200M development is a partnership between KDC, Westin, and Aloft. As indicated by the significant investment in the area, Northwest Dallas is a growing submarket within urban Dallas and provides easy access to the trendy Park Cities.
No. of Units: 308Square Footage: 236,862 SFAsset Type: MultifamilyDate Acquired: November 2021
Bayou Bend is located in Northwest Dallas and is 5.3 miles away from the Dallas Love Field Airport, Dallas’ only urban airport employing 8,600 people on-site and serving 14.5 million passengers per year. The surrounding area is experiencing a revitalization. Currently, the $200 million West Love Development is slated to deliver 200,000 square feet of office, 65,000 square feet of retail, and a 244-room hotel. The $200M development is a partnership between KDC, Westin, and Aloft. As indicated by the significant investment in the area, Northwest Dallas is a growing submarket within urban Dallas and provides easy access to the trendy Park Cities.
No. of Units: 400
Square Footage: 398,895 SF
Asset Type: Multifamily
Date Acquired: July 2021
Hanley Place is a low-density multifamily community boasting a large footprint (18.5 Acres) in the prominent submarket of Town ‘n’ Country in Tampa Bay. The property is well located with access to world-renown beaches and is just 14 minutes away from both downtown Tampa Bay and the West Shore business district, home to the Raymond James stadium – host of Super Bowl XXXV, XLII and LV. The West Shore district is also home to major fashion brands, home décor brands, trendy restaurants, and craft breweries.
Tampa Bay was named the #9 fastest growing large cities by WalletHub and was ranked #10 for fastest-growing Median house price growth. The growth in the city and increasing housing pricing make Tampa a leading market for multi-family investment.
Submarket: Dallas/Fort Worth
No. of Units: 240
Square Footage: 211,704 SF
Date Acquired: May 2021
Chimney Hill sits in Northeast Dallas just off Interstate-635, within four miles of six different grocery stores and within walking distance to Forest Lane Academy. The Property is also within close proximity to several major employment centers including the Telecom Corridor, the corporate headquarters for Texas Instruments, Presbyterian Hospital Dallas, Medical City Dallas, and Downtown Dallas.
Dallas was named the #2 fastest growing economy by Forbes and has seen tremendous growth over the last decade, consistently leading the nation in both job and population growth.
Submarket: Fort Myers
No. of Units: 338
Square Footage: 284,210 SF
Date Acquired: June 2021
Fort Myers/Cape Coral is the 7th fastest growing MSA in percentage growth in the U.S at 22% (2018).The city of Fort Myers experienced a 7.67% rental increase since 2017. According to U.S News, Fort Myers ranks No. 2 on the Best Places People Are Moving list for the second straight year.
The property is located in a very multifamily-friendly market. Costar projects high rent growth in the upcoming years, and a median income that is at 28% of proforma rents.
No. of Units: 348
Square Footage: 290,024 SF
The property’s suburban, yet close-in location offers connectivity to all of Atlanta’s top job hubs, including Downtown, Midtown, Buckhead, the Platinum Triangle, Perimeter Center, and Hartsfield-Jackson International Airport. The site also benefits from being located just off I-20, creating unparalleled connectivity to a multitude of major Atlanta employers.
Atlanta continues to grow as the economic capital of the Southeast and as a global business hub. Atlanta is one of the fastest-growing metros, with the 10th largest GDP in the United States.
No. of Units: 112
Square Footage: 66,401 SF
Positioned centrally among the greater Southeast Valley, District Flats has convenient access to ±240,800 professionals across ±7,000 businesses within a five-mile radius, and access to ±426,100 professionals across ±11,000 businesses within a ten-mile radius.While these economic efforts have driven a rapid rise in rental demand, the supply of multifamily housing has remained relatively stationary creating a favorable investor opportunity. As a result, the Southwest Mesa submarket has seen approximately ±6.00% year-over-year rent growth and occupancy at ±96% as of 4Q2020. In addition, Southwest Mesa has the highest average rental rate in Mesa.
Submarket: Richardson ISD, Dallas, TX
No. of Units: 308
Square Footage: 195,520 SF
Date Acquired: September 2020
Located in Richardson ISD, the property benefits from an excellent location in a highly sought after school district. According to Axiometrics, the submarket is expected to see at least 4% annual rent growth through 2022. There are 0 units currently under construction or planned within a 3-mile radius.
The property lies in the heart of the Telecom Corridor, and is the 2nd largest employment center in DFW. The surrounding area’s major employers include the State Farm facility (8,500 employees), an AT&T division (1,100 employees), Blue Cross Blue Shield HQ (3,100 employees), and UTD (2,674 employees).
No. of Units: 206 Units
260 Unit Apartment Community in the Richardson ISD area of Dallas.
Submarket: Arlington, TX
No. of Units: 224
Date Acquired: December 2019
224 Unit Apartment Community in the Arlington area of Dallas.
Arlington, TX consistently ranks as one of DFW’s top sub markets for rent, population and employment growth. This sub market has seen very low vacancies and strong rent growth due to a lack of new development and a high demand for high quality workforce housing.
Economic drivers in the immediate area include: Cowboy Stadium, Texas Live, GM Motors Assembly Plant, Six Flags Theme Park, Lockheed Martin and the new I-30/360 interchange.
Submarket: Buckhead, Atlanta
No. of Units: 118
Square Footage: 73,750 SF
118 Unit Apartment Community in the Buckhead area of Atlanta, GA.
Atlanta is attracting fast growing technology companies and focusing on cutting edge development. The Park at Peachtree Hills offers superior connectivity to major employment centers such as Buckhead, Midtown, Downtown and the Perimeter.
It is projected that Atlanta will rank third in the country in terms of job growth for 2026-2020. The unemployment rate just fell to 3.4%.
Submarket: El Paso, TX
No. of Units: 159
Square Footage: 135,311 SF
Date Acquired: December 2018
159 Unit Community located in El Paso, Texas. A large property in central location, close to arterial I-10, the blossoming Downtown area and UTEP campus, El Paso is a quickly improving sub market with a huge amount of investment being carried out. ZMR Capital is to carry out extensive renovations and improvements to the property in order to better position it in the marketplace.
Submarket: The Willows, Orlando
No. of Units: 200
Square Footage: 157,278 SF
Date Acquired: December 2016
200 Unit Community located in The Willows, Orlando. ZMR Capital stabilized the property by increasing efficiency, tenant screening, raising the rents and minor renovations.
Submarket: Pine Hills, Orlando
No. of Units: 91
Square Footage: 93,200 SF
Asset Type: Multifamily
Date Acquired: March 2016
91 Unit Community located in West Orlando, Pine Hills.ZMR Capital stabilized the property by increasing efficiency, tenant screening, raising the rents, and minor renovations.
The property was sold for a then-record price in the Orlando submarket for cardinal homes.
No. of Units: 40
Square Footage: 32, 600 SF
Date Acquired: August 2015
40 unit town home community located just West of the Central Business District, near Universal Orlando Resort.
ZMR Capital carried out major renovations, increased occupancy to capacity,increased rents, improved tenant screening, major landscaping before selling the property.
Submarket: Phillippi Shores, Sarasota
No. of Units: –
Square Footage: 16, 100 SF
Date Acquired: April 2018
ZMR Capital completed extensive renovations to the exterior and interior of the entire property, replacing the roof, A/C systems, drastically improving the swimming pool, amenities and landscaping.
Submarket: University Tampa
No. of Units: 28
Square Footage: 42, 400 SF
Date Acquired: July 2015
28 unit town home community located in close proximity to Interstate 275, University of South Florida.
ZMR Capital renovated the units, stabilized and increased the rent, improved the tenant screening before selling the property.
Submarket: Tampa & Orlando, FL
Square Footage: –
Date Acquired: 2014
A mixed portfolio of townhomes, multifamily units, and apartments.
ZMR Capital carried out minor renovations, improved the tenant base, increased rents, and occupancy prior to selling.