Documents
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Attributes
Year Built | 1981 |
Building Area Net |
|
Land Area Net |
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Number of units | 272 |
Occupancy | 96.0 % |
Call for Offers | 2022-04-12 |
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in Pecan Creek (the “Property”), a 272-unit asset located in Bedford, TX. Positioned in the Hurst/Euless/Bedford (“HEB”) submarket, the Property offers excellent access to several large employment centers including DFW International Airport, Texas Health HEB, and the Great Southwest Industrial Park. In addition, the HEB submarket posted an average current occupancy of 97.5% with 16.5% rent growth over the last year. This trend should continue as the City of Bedford and the HEB submarket have no new projects in the pipeline. Additionally, Pecan Creek has experienced tremendous rent growth as the lease trade out for the last 30 days is a staggering 23% while renewals are achieving $90 increases. The demographic base surrounding the Property is also strong, with an average income within a three-mile radius of $102,800.
Investment Highlights
COMMUNITY AMENITIES:
❒ Shimmering Swimming Pool
❒ Clubhouse
❒ Dog Park
❒ Firepit
❒ Clothes Care Center
❒ State-of-the -Art Fitness Center
❒ Picnic Area
APARTMENT FEATURES:
❒ All-Electric Kitchen
❒ Hardwood-Style Flooring
❒ Walk-In Closets
❒ Balcony or Patio
❒ Washer and Dryer Connections
❒ Wood Burning Fireplace*
*in select units