Los Angeles, CA (June 28, 2013) – L5 Real Estate Investments (“L5”), a Southern California-based multifamily investment firm, and its partners have recently acquired 2 apartment communities totaling 300 units in the Tyler, Texas market. Both properties were built in the early 1980s and are solid Class ‘B’ properties with historically high occupancies.
The investments are positioned to experience growth in the strong Tyler market. The properties stand to benefit from L5’s proposed $771,000 exterior and interior upgrades.
The deals were sourced through ARA Real Estate Investment Services of Dallas. Financing was provided through Grandpoint Real Estate Capital and M&T Realty Capital. L5 would like to thank all parties involved in the successful acquisition of both properties.
L5 is looking to expand its investment portfolio in Texas and throughout the Southeast.
L5 Real Estate Investments is a privately held investment firm that continues to actively acquire multifamily opportunities in emerging U.S. markets.
L5 Real Estate Investments, LLC is a privately held investment firm focused on stable, income producing multi-family opportunities in emerging U.S. markets.