|Number of units||312|
Jones Lang LaSalle Americas. Inc. or its state licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in Silver Creek (the “Property”) a 312-unit asset in North Dallas. Located in the Far North Dallas submarket, the Property enjoys remarkable access as it is situated one mile from both President George Bush Turnpike and the Dallas North Tollway. Built in 1986, the Silver Creek offers potential investors numerous value-enhancement opportunities through interior renovations and community amenity enhancements while simultaneously requiring little deferred maintenance. Additionally, the Property is surrounded by an abundance of neighboring retail destinations and employment centers such as Legacy West, the Shops at Willow Bend, Nebraska Furniture Mart & Grandscape, and the Platinum Corridor.
HIGH QUALITY CLASS B ASSET – Silver Creek presents the opportunity to acquire a high-quality, Class B+ asset that features primarily brick exteriors. The Property is in excellent physical condition with new paint and roofs, and offers a low-density setting with ample open space, creating a desirable environment for renters. In addition, the Far North Dallas submarket has no new supply coming online over the next 12 months, which helps to further drive rents at the Property.
CONTINUED VALUE-ADD OPPORTUNITY – Silver Creek offers new ownership the opportunity to continue or expand on the in-place renovation, which has been completed on XX% of the Property. Potential upgrades include:
GRANITE, COUNTERTOPS, FAUX WOOD FLOORING, SUBWAY TILE BACKSPLASH, NEW LIGHTING, HARDWARE, & FIXTURES, STAINLESS STEEL APPLIANCES, MODERN STYLE CABINETS, FRAMED MIRRORS IN BATH
In addition, the granite upgrades are achieving approximately a $XXX premium over the classic units.
30% units w / GRANITE UPGRADE
59% units w / FULL UPGRADE
11% units - CLASSIC