DALLAS, Sept. 14, 2022 /PRNewswire/ — Ashland Greene Capital, a Dallas-based multifamily real estate investment firm, has announced its first 506(c) fund as it continues to grow its portfolio. Ashland Greene is a vertically integrated real estate company that currently owns and operates $1 billion of assets in more than 5,100 units in the Dallas-Fort Worth metroplex. Previously the investment arm of Ashland Greene has raised funding through 506(b) offerings.
Ashland Greene Value-Add Fund V, an investment opportunity for accredited investors, consists of two off-market properties located in Garland and Forney, Texas. The Garland property, Esencia Apartment Homes, has 200 units, while the Forney location, The Preserve at Gateway, is an active adult living community with 120 units. The Preserve at Gateway will represent another first for Ashland Greene – the acquisition of a 55+ property for active adults.
Ashland Greene is quickly establishing its name in the metro area by leveraging North Texas’ ongoing population boom and the resulting need for housing by the many who continue to move to Texas. Forney ranked seventh in the top 10 hottest neighborhoods across the U.S., according to 2021 relocation data from digital homebuying platform Opendoor. Kaufman County, where Forney sits, was named by US News & World Report as the fastest growing county in the nation between 2020-2021.
“With an economy that is still strong despite inflation, especially compared to the rest of the country, people are moving to Texas in search of jobs and a more affordable cost of living,” said Ashland Greene’s CEO Shakti C’Ganti. “At Ashland Greene, we’re experts on the Dallas-Fort Worth market because we live and work where we invest.”
“These two properties represent an exciting opportunity for Ashland Greene investors,” he added. “We’re purchasing The Preserve at Gateway, which is a brand-new build with the potential for future construction, before stabilization. While it’s at 75 percent occupancy now, our team understands the desires of North Texas’ burgeoning senior population. With our years of property management experience, we’re confident in our team’s ability to quickly increase occupancy there. Meanwhile, we have a proven strategy for value-add properties, like Esencia, that delivers investor returns.”
In early 2022, Ashland Greene purchased a property located less than two miles from Esencia that hit its five-year pro forma within six months.
The funding deadline for Fund V, with properties totaling 320 units, is October 5 with the fund expected to close mid-November. The firm will host a webinar for interested investors on Wednesday, Sept. 21 at 7 p.m. CDT. Registration details can be found at agvafv.com.
Ashland Greene receives an average annual return of approximately 25 percent on their exits where the typical hold period is 2.8 years and averages 95 percent depreciation on Year One investments. In 2022, Ashland Greene plans to return about $90 million to investors.
Ashland Greene is a vertically integrated real estate company which seeks to identify and reposition undervalued multifamily investments in the Dallas-Fort Worth Metroplex. Our local focus, dedication to trustworthy, long-term relationship building, and commitment to community, enable Ashland Greene to create a unique investment experience which delivers long-term value for its investors, residents, and communities. For more information, visit ashlandgreenecapital.com/.
Past performance is not indicative of comparable future results. Market and economic conditions may change in the future producing materially different results than those shown here. All investments have inherent risks. Targeted returns are based on five-year hold for Class A & B Limited Partner Investment.
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SOURCE Ashland Greene Capital