LOOKOUT RIDGE

LOOKOUT RIDGE
201 LOOKOUT RIDGE BOULEVARD, HARKER HEIGHTS, TEXAS 76548 – 143 UNITS
Marketing Proposal
PRESENTED TO
OMNI PROJECTS
JANUARY 2014
EXECUTIVE SUMMARY
Transwestern is pleased to provide Omni Projects with this proposal to
provide strategic disposition services relating to Lookout Ridge.
We sincerely appreciate this opportunity, and we are confident that the Transwestern team offers
you the requisite skills and experience necessary to excel in this assignment. Our sales process,
hands–on approach, and track record with similar assets will enable Omni Projects to achieve
maximum sales pricing for this asset.
Valuation Summary
Cap Rate
Stable Value
Renovation Costs
As-Is Value
Value/Unit
Value/SF
8.25%
$5,260,000
($700,000)
$4,560,000
$31,888
$46
8.50%
$5,110,000
($700,000)
$4,410,000
$30,839
$44
Our analysis of Lookout Ridge in delivering the range of values is based on the following:
nThorough
analysis of the property’s past performance and a comprehensive understanding of the
submarket/market fundamentals in underwriting a realistic broker opinion of value.
nComplete
nIncome
walk through of the property with management.
approach utilizing a stabilized cap rate range of 8.25 - 8.50%
nUtilizing
applicable recent sales comparables and amenities of these communities, our valuation
is consistent with values being achieved today. Our pricing is based on a balance of a market cap
rate and overall price per unit as compared to the sales comparables in similar markets.
OMNI PROJECTS
LOOKOUT RIDGE
Property Details
Lookout Ridge is a 143-unit multifamily asset located in Harker Heights, Texas. The property has access
to major thoroughfares and is located just off Highway 190. Residents in the area have instant access to
employment and service facilities; Seton Medical Center (5 minutes), Central Texas College (13 minutes),
Texas A&M -Central Campus (16 minutes) and Ft. Hood Military Base (20 minutes). Less than 3 miles
from Lion’s Run is a new 82 acre retail development, Market Heights. This high-end retail development
includes Target, Barnes and Noble, Home Depot, Bed, Bath and Beyond, Dicks Sporting Goods as well as
many restaurants, retail and other small service businesses. Lookout Ridge is an excellent candidate for a
property renovation program. Once renovated, the property could better attract military residents as well
as employees from the Market Heights development.
Location: 201 Lookout Ridge Blvd
Harker Heights, TX 76548
Units: 143
Year Built: 1986
Rentable SF: 99,420 square feet
Buildings:
Buildings
• Refrigerator
Site Size: 4.28 acres
• Dishwasher
Density: 33 units per acre
Community Features
• Mature Landscaping
• Laundry Facility
• Pool
Unit Features
• Ceiling Fans
• Blinds
Tax Account #: 23665
• Patio/Balcony
• Carpet in bedroom
• Walk in Closets
Utilities: • Wood Burning Fireplace*
Electricity: Resident Paid
Water: Billed back to Resident
* Select units
Unit Mix
TYPE
UNITS
UNIT MIX
AVG SF
1BR/
1BR Affordable
1BR
1BR Affordable
2BR
2BR Affordable
Total/Avg.
29
19
28
20
34
13
143
20%
13%
20%
14%
24%
9%
100%
523 sf
523 sf
667 sf
667 sf
900 sf
900 sf
695 sf
AVG MKT
RENT*
$575
$452
$625
$503
$750
$595
$602
RENT
PER SF
TOTAL
SF
TOTAL
RENT
$1.10
$0.86
$0.94
$0.75
$0.83
$0.66
$0.87
15,167 sf
9,937 sf
18,676 sf
13,340 sf
30,600 sf
11,700 sf
99,420 sf
$16,675
$8,588
$17,500
$10,050
$25,500
$7,735
$86,048
* Rents have been adjusted to market rates at similar properties as our underwriting assumes a $700,000 renovation
TRANSWESTERN DALLAS MULTIFAMILY GROUP
ABOUT US
Taylor Snoddy
Managing Director
Philip Wiegand
Vice President
Suzy Reed
Financial Analyst
James Roberts
Secondary Markets
Specialist
Lauren McLarnon
Marketing Coordinator
Devin Etzold
Graphic Designer
TEXAS SECONDARY MARKETS
TRANSWESTERN’S SELECT TRANSACTIONS
Arnold Circle
Pecan Haven
Summerwood
Claystone
Texarkana, Texas
Nash, Texas
On the Market
On the Market
Tyler, Texas
Abilene, Texas
On the Market
Under Contract
Lakewood Village
Town East Village
Georgia Manor
Sandalwood
Nacogdoches, Texas
Greenville, Texas
Texarkana, Texas
Texarkana, Texas
Under Contract
Under Contract
Sold
Sold
OMNI PROJECTS
Distinctive Value Proposition
LOOKOUT RIDGE
Core Values
Integrity
Our engaged sales
approach provides
you 100% assurance of
achieving the highest
market value for your
assets
n We
uniquely analyze every asset to
uncover value creation possibilities. We
know how to communicate the realistic
upside to investors.
n We
are the face you see throughout the
sale and we are always accessible.
n We
employ all of our resources one
transaction at a time to deliver the best
quality of service.
n Our
clients tell us that we provided
them with the best service they have
ever experienced in a multifamily
transaction. Creating value and building
trusting relationships is what drives us.
We turn over every stone in seeking the
best solutions for our clients using honest
and ethical practices.
Respect
We treat others with the highest possible
regard.
Accountability
Upholding commitments to our clients is
our first priority.
Authentic
Our clients will always experience our true
selves.
Resilient
We will always persevere in the face of
challenges, which become opportunities for
improvement.
TRANSWESTERN DALLAS MULTIFAMILY GROUP
SWOT ANALYSIS
It is vital to fully understand an asset’s strengths, weaknesses, opportunities and threats when marketing the
property. It is necessary to sell the strengths and opportunities and sell over the weaknesses and threats, whether
real or perceived. The following is based on the Transwestern team’s review of Lookout Ridge, its competitive set,
the current multifamily market, and the overall Harker Heights area economy.
STRENGTHS
n1986
n143
construction with significant value-add potential
units provides good economies of scale
nGood
nLack
location off Highway 190 near newer high-end retail development
of offerings for sale in secondary markets over 100 units
WEAKNESSES
n
Property needs significant work to achieve the proforma rents
n
Occupancy has declined recently and the property has 52 afforable units
n
The property is not eligible for agency financing and will require a bank or bridge loan
OPPORTUNITIES
nRepair
nPush
the deferred maintenance, renovate the interiors of the units and push the rental rates to $0.87 psf
occupancy over 90% through increased marketing and offering a renovated community
nCombine
with Lions Run to create better operational efficiency
THREATS
nInterest
rates moving up and subsequently cap rates
nImproving
single family market
OMNI PROJECTS
LOCATION MAP
Lookout Ridge
Lookout Ridge
LOOKOUT RIDGE
TRANSWESTERN DALLAS MULTIFAMILY GROUP
Demographic Summary Report
OMNI PROJECTS
Lookout Ridge Apartments
LOOKOUT RIDGE
201 Lookout Ridge Blvd, Harker Heights, TX 76548
Building Type:
Building Size:
# of Units:
Avg Unit Size:
Multi-Family
112,176 SF
143
695 SF
% Bldg Vacant: 20%
Total Available: 0 SF
Rent/SF/Yr: -
VALUATION SUMMARY
Demographics
Radius
Population
2018 Projection
2013 Estimate
2010 Census
Growth 2013 - 2018
Growth 2010 - 2013
2013 Population by Hispanic Origin
2013 Population By Race
White
Black
Am. Indian & Alaskan
Asian
Hawaiian & Pacific Island
Other
Households
2018 Projection
2013 Estimate
2010 Census
Growth 2013 - 2018
Growth 2010 - 2013
Owner Occupied
Renter Occupied
2013 Households by HH Income
Income: <$25,000
Income: $25,000 - $50,000
Income: $50,000 - $75,000
Income: $75,000 - $100,000
Income: $100,000 - $125,000
Income: $125,000 - $150,000
Income: $150,000 - $200,000
Income: $200,000+
2013 Avg Household Income
2013 Med Household Income
1 Mile
3 Mile
7,348
6,803
6,335
8.01%
7.39%
1,475
6,803
4,791 70.42%
1,304 19.17%
107 1.57%
213 3.13%
76 1.12%
312 4.59%
2,837
2,623
2,432
8.16%
4.24%
1,069
1,554
2,623
705
764
478
259
173
87
144
13
$57,849
$42,216
40.75%
59.25%
26.88%
29.13%
18.22%
9.87%
6.60%
3.32%
5.49%
0.50%
5 Mile
45,789
42,559
40,132
7.59%
6.05%
8,264
42,559
27,195 63.90%
10,628 24.97%
534 1.25%
1,690 3.97%
391 0.92%
2,122 4.99%
16,599
15,422
14,538
7.63%
4.87%
8,667
6,756
15,423
3,435
3,655
2,813
1,852
1,672
964
888
144
$67,842
$56,718
This copyrighted report contains research licensed to Transwestern Dallas - 636100.
56.20%
43.81%
22.27%
23.70%
18.24%
12.01%
10.84%
6.25%
5.76%
0.93%
107,623
99,821
93,481
7.82%
6.78%
21,495
99,821
59,994 60.10%
28,408 28.46%
1,213 1.22%
4,039 4.05%
1,139 1.14%
5,029 5.04%
40,164
37,230
34,842
7.88%
5.59%
19,615
17,615
37,229
8,952
10,244
7,180
4,438
2,967
1,660
1,461
327
$60,740
$47,585
52.69%
47.31%
24.05%
27.52%
19.29%
11.92%
7.97%
4.46%
3.92%
0.88%
1/28/2014
Page 1
TRANSWESTERN DALLAS MULTIFAMILY GROUP
Valuation Summary
Cap Rate
Stable Value
Renovation Costs
As-Is Value
Value/Unit
Value/SF
8.25%
$5,260,000
($700,000)
$4,560,000
$31,888
$46
8.50%
$5,110,000
($700,000)
$4,410,000
$30,839
$44
ACTUAL VERSUS PROFORMA COMPARISON
DEC 2013 T12 INC & EXP
YEAR 1/BOV PROFORMA
$1,063,500
Annual Market Rents
Projected Increase
Gain (Loss) to Lease
Gross Potential Rent
Vacancy Loss
8.00%
(85,080)
Concessions
5.00%
(53,175)
Bad Debt/Other Losses
1.50%
(15,953)
710,598
85.5%
909,293
128
18,276
196
28,000
5,097
$728,875
6,554
$937,293
Net Rental Income
Utility Reimbursement Income
Parking Income
Other Income
Effective Gross Income
Monthly Revenue Average
$60,740
$78,108
Operating Expenses
Contract Services
132
18,853
140
20,000
Repairs & Maintenance
Make-Ready/Turnover
Administrative
387
44
79
55,376
6,359
11,365
385
52
154
55,000
7,500
22,000
Marketing
29
4,164
70
10,000
1,157
165,411
1,084
155,000
(1,829)
(261,528)
(1,885)
(269,500)
302
43,221
350
50,000
23
3,291
262
37,492
3
500
245
35,000
(2,158)
(308,540)
(2,741)
(391,992)
Real Estate Taxes
476
68,133
Tax Reassessment
52
7,389
Payroll
Controllable Expenses
Utilities
Management Fees
Insurance
Operating Expense Subtotal
250
35,750
Total Operating Expenses
(2,158)
(308,540)
(3,519)
(503,264)
Net Operating Expenses
2,939
$420,335
3,035
$434,029
Recurring Capital Expenditures
OMNI PROJECTS
LOOKOUT RIDGE
TRANSWESTERN DALLAS MULTIFAMILY GROUP
12-MONTH HISTORICAL
JAN-13
FEB-13
MAR-13
APR-13
MAY-13
JUN-13
JUL-13
AUG-13
SEP-13
RENTAL INCOME
Net Rental Income
Physical Occupancy
Economic Occupancy
Utility Reimbursement Income
Other Income
Gross Revenues
66,282
64,327
64,245
59,675
65,337
56,459
59,189
62,045
59,469
1,120
67,402
2,407
66,734
1,232
65,477
1,530
61,205
2,526
67,863
1,683
58,142
1,754
60,943
2,136
64,181
425
59,894
OPERATING EXPENSES
Contract Services
Repairs & Maintenance
MAke-Ready/Turnover
Administrative
Marketing
Payroll
Controllable Exp Subtotal
1,776
2,606
614
1,121
220
13,148
19,483
1,228
4,557
318
957
220
11,845
19,126
1,234
6,224
366
1,622
1,799
12,941
24,187
1,234
3,418
326
695
238
12,330
18,241
1,234
3,758
333
299
257
12,568
18,449
1,234
8,755
1,253
1,731
238
12,055
25,267
1,028
618
330
205
19
15,495
17,694
1,439
5,284
386
1,396
220
15,072
23,797
2,734
7,286
1,251
1,129
458
14,564
27,421
2,948
693
4,129
193
3,568
736
2,410
185
500
3,875
4,129
603
1,579
4,012
173
6,404
358
Operating Expenses
23,125
23,448
28,491
21,336
22,324
29,999
19,273
27,982
34,184
Real Estate Taxes
Recurring Capital Expenditures
Total Expenses
23,125
23,448
28,491
21,336
22,324
29,999
19,273
27,982
34,184
Net Operating Income
44,277
43,286
36,986
39,869
45,539
28,143
41,670
36,199
25,711
Utilities
Management Fees
Insurance
OMNI PROJECTS
TRAILING
12 MONTHS
6 MONTHS
ANNUALIZED
90 DAY
ANNUALIZED
60 DAY
ANNUALIZED
LOOKOUT RIDGE
30 DAY
ANNUALIZED
OCT-13
NOV-13
DEC-13
56,361
46,498
50,711
710,598
4,969
668,547
4,675
614,281
4,296
583,254
4,079
608,532 4,255
1,677
58,038
1,231
47,729
556
51,267
18,276
728,875
128
5,097
15,557
684,103
109
4,784
13,853
628,135
97
4,393
10,719
75
593,973 4,154
6,670
47
615,202 4,302
1,500
5,702
129
614
19
15,339
23,303
206
2,837
765
1,118
238
14,440
19,605
4,006
4,332
286
478
238
15,614
24,953
18,853
55,376
6,359
11,365
4,164
165,411
261,528
132
387
44
79
29
1,157
1,829
18,853
55,376
6,359
11,365
4,164
165,411
261,528
132
387
44
79
29
1,157
1,829
18,853
55,376
6,359
11,365
4,164
165,411
261,528
132
387
44
79
29
1,157
1,829
18,853
132
55,376
387
6,359
44
11,365
79
4,164
29
165,411 1,157
261,528 1,829
18,853
132
55,376
387
6,359
44
11,365
79
4,164
29
165,411 1,157
261,528 1,829
2,446
3,751
175
3,971
175
43,221
3,291
500
302
23
3
43,221
3,291
500
302
23
3
43,221
3,291
500
302
23
3
25,749
23,531
29,100
308,540
2,158
308,540
2,158
308,540
2,158
308,540 2,158
308,540 2,158
25,749
23,531
29,100
308,540
2,158
308,540
2,158
308,540
2,158
308,540 2,158
308,540 2,158
32,289
24,198
22,167
420,335
2,939
375,563
2,626
319,595
2,235
285,433 1,996
306,662 2,144
43,221
3,291
500
302
23
3
43,221
3,291
500
302
23
3
TRANSWESTERN DALLAS MULTIFAMILY GROUP
SALE COMPARABLES
Property
# Units
Age
Avg SF
$Price
$Price/Unit
Price/ SF
Date Sold
143
1986
695 sf
$4,560,000
$31,888
$46
Proposal
176
1983
953 sf
$7,920,000
$45,000
$47
Dec 2013
248
1970
950 sf
$8,600,000
$34,677
$37
Oct 2013
112
1984
769 sf
$3,600,000
$32,143
$42
Jul 2013
208
1985
705 sf
$7,473,475
$35,930
$51
Apr 2013
224
1984
824 sf
$9,954,000
$44,438
$54
Jul 2012
Lookout Ridge
201 Lookout Ridge Blvd, Harker Heights, TX 76548
1
Mill Creek
5249 US Hwy, Abilene, TX 79605
2
Village Green
4372 W Lake Shore Dr, Waco, TX 76710
3
Creekside Apartments
3550 SW H K Dodgen Loop, Temple, TX 76504
4
Baxter Crossing
415 Owen Lane, Waco, TX 76710
5
Twin Oaks
601 N. Twin Oaks Drive, Temple, TX 76504
OMNI PROJECTS
LOOKOUT RIDGE
TRANSWESTERN DALLAS MULTIFAMILY GROUP
RENT COMPARABLES
Units
Occ %
Built
NRSF
Avg Unit
Size
Avg Rent/
Unit
Rent/SF
160
78%
1995
122,944
768 sf
$914
$1.19
160
91%
1984
131,168
820 sf
$781
$0.95
212
85%
1988
173,144
817 sf
$717
$0.88
152
90%
1985
117,648
774 sf
$725
$0.94
344
N/A
1982
236,578
688 sf
$663
$0.96
200
95%
1985
153,836
769 sf
$700
$0.91
Average
205
88%
1987
155,886
773 sf
$750
$0.97
Lookout Ridge
143
66%
1986
99,420
695 sf
$602*
$0.87
Property
1
The Arbors of Killeen
2801 O.W. Curry Dr, Killen, TX 76542
2
Twin Creek Apartments
401 S Twin Creek Dr, Killeen, TX 76543
3
Keystone Apartments
2502 Bacon Ranch Rd, Killeen, TX 76542
4
Hunters Glen
1201 Bacon Ranch Rd, Killeen, TX 76542
5
Stonehill
501 W Central Texas Expy, Killeen, TX 76541
6
The Remington Apartments
1001 N Twin Creek Dr, Killeen, TX 76543
201 Lookout Ridge Blvd, Harker Heights, TX 76548
*Proforma Rents
OMNI PROJECTS
LOOKOUT RIDGE
RENT COMPARABLES MAP
6
5
2
4
1
3
S
TRANSWESTERN DALLAS MULTIFAMILY GROUP
MARKETING STRATEGY
Our Texas Secondary Advisory team led by
James Roberts, Taylor Snoddy and Philip
Wiegand focus on maximizing value for
real estate investors through dispositions,
consulting and acquisitions.
With a wealth of proficiency in executing
multifamily transactions, in–depth market
knowledge, and a highly technical valuation
platform, the team provide owners, sellers
and buyers with unparalleled multifamily
expertise.
While sellers receive maximum exposure
of their communities to all local, regional
and national investors, James, Taylor and
Philip maintain a steady flow of dialog and
communication with their clients to ensure
success at every level of an engagement.
Providing the absolute best client service
in the industry is paramount to the Team’s
philosophy of being successful. As such,
you can count on our responsiveness,
communication and attention to detail when
working with Transwestern. We excel in
representing our clients, understanding their
needs, and optimizing their position in every
real estate transaction.
During the first phase we will thoroughly evaluate the
property and the market area. Our evaluation will include a
review of all relevant documents pertaining to the property,
review of the property’s physical condition and preparation
of a detailed financial analysis and supporting details. In
addition we will prepare the marketing materials.
The marketing materials will be prepared
using the highest quality materials,
consistent with the caliber of the property.
The Marketing Campaign begins with an
eBlast to pre–qualified investors.
All marketing materials are to be
completed prior to the eBlast launch.
Therefore, the offering memorandum
and all additional supporting financial
documents will be available to the investor
immediately upon electronic execution of
the confidentiality agreement.
Within the offering memorandum and
in our conversations, we will clearly
articulate the time schedule, conditions
of the transaction and the procedure we
will utilize to make selected information
available.
As investors electronically execute the
on–line confidentiality agreement (CA), we
will promptly follow up with each investor
in a one–on–one conversation to discuss
the portfolio investment opportunity, and
schedule a tour of the asset.
A Call–for–Offers eBlast is sent out
informing prospective investors who
executed the confidentiality agreement
of the bid date. Offers will be due on
that date in our office. Following receipt
of the term sheets we will prepare a
matrix summarizing offer details for the
ownership to review. In consultation
with the ownership, a select number of
investors will be invited to continue in the
process.
At this juncture, selected investors will
be asked to respond with their best and
final terms, proof of funds, and deferred
maintenance budget. The key to a
successful marketing effort is to not only
OMNI PROJECTS
secure the investor with the best terms, but to
provide strong competition that will generate
back up proposals. This will ensure that pressure
remains on the selected investor to perform as
agreed.
The eBlast is an an interactive, email–based
document. The impact of the eBlast is dramatic
in creating interest and informing potential
buyer of the investment opportunity. The eBlast
has two specific links the investor can select. The
first is to the property flyer (which also links to
the online CA) and the second is to immediately
execute the on–line CA.
LOOKOUT RIDGE
terms will be sustained throughout the investor’s
due diligence period. An investor is more likely
to be forgiving of information (i.e., roof age and
condition) that is disclosed prior to their initial
offer than after their offer has been accepted.
The Due Diligence Package limits the second
round of negotiations.
The due diligence items should include all of the
information that potential investors will require,
other than their third party reports. The specific
materials to be included in the Due Diligence
Package for the property–subject to the review
and approval of the ownership and as available,
would include:
Title Insurance Report
n
Interested investors are required to complete
the online CA prior to receiving access to the
downloadable documents in the document
center. Each executed CA will be promptly
followed up with a phone call from James
Roberts, Taylor Snoddy or Philip Wiegand
The Offering Memorandum
The offering memorandum will be designed to
address the opportunities and characteristics
of the property. This approach ties in with our
philosophy that something of value should be
professionally presented to fully maximize the
property’s potential. The Offering Memorandum
will include:
nCommunity
nSite
description
and floorplans
nFinancial
Analysis/Financial Notes
nRent
& sales comparables
nArea
and Market overviews
nDemographics
Due Diligence Package
The Due Diligence Package is a creative
marketing tool that enables us to ensure that
the received bids are credible and that the offer
Property Condition Report
n
Soils/Environmental Report
n
ALTA Survey
n
Service contracts that must be assumed and
all revenue sharing agreements
n
TRANSWESTERN DALLAS MULTIFAMILY GROUP
Marketing Timeline
STEP ONE
STEP TWO
STEP THREE
STEP FOUR
Week 1–2
Week 2
Week 3
Week 3–6
On–Site
Team
Introduction
n Meet
with site manager
and staff to review the
marketing process
n Tour
the community
with site and
maintenance manager
to get full knowledge of
the site operations and
physical characteristics
n Create
an optimal tour
route to best show the
property to potential
investors
n Schedule
photography
exterior and interior
pictures of the property
Develop
Marketing
Materials
the
marketing flyer,
OM, website and
broadcast eBlast
Property
Marketing
Campaign
n Complete
n Launch
n Upload
n Call
all financial
and due diligence
information to the
property’s secure
document center
n Finalize
custom area
overview aerial for
tours that highlights
retail, employment,
education and
entertainment
the initial
eBlast to database
local and national
active investors
all owners within a
five mile radius of the
property
n Call
customized list of
“most likely buyers”
created specifically for
this asset
n Contact
the investors
who execute the
property CA to
discuss the investment
opportunity
n Schedule
property
tours
Property
Tours
n James,Taylor
and Philip
conduct all property
tours
n Conduct
full market
overview with the
investors at the site with
full size aerial
n Provide
the Seller
a weekly update of
registered investors and
commentary regarding
the interest level
n Launch
the non–
responder eBlast
n Launch
the call–for–offers
eBlast
n Create
list of expected
Investor offers
STEP FIVE
STEP SIX
STEP SEVEN
STEP EIGHT
Week 7
Week 8–9
Week 10–13
Week 14–17
Call for
Offers Date
n Receive
and
summarize offers with
commentary on each
buyer’s presence in
the local market and
sources of debt and
equity
n Send
the top offers a
“Best and Final” letter
Awarding
the Deal &
Contract
Negotiation
n Conduct
buyer
qualification interview
with each investor
and the Seller in
order to review
their underwriting,
estimates of deferred
maintenance, and
debt/equity sources
n Assist
seller in
negotiating the
purchase and sale
agreement
Due
Diligence
Period
n Develop
the property
inspection schedule and
notify seller of dates
for unit walks, lease
audit and third party
inspections
n Facilitate
in obtaining the
remaining due diligence
items for the buyer
n Continue
to provide
seller with status updates
throughout the escrow
period
Closing
n Assist
in obtaining last
minute buyer requests
for information to
facilitate a smooth
closing
OMNI PROJECTS
MARKETING SAMPLES
Market Reports
Multifamily Sales Transaction
Quarterly Research Piece
Sale Comparable Piece
Property Marketing
Property website
eBlast marketing campaign
On–site aerial map
Property flyer
Offering memorandum
LOOKOUT RIDGE
TRANSWESTERN DALLAS MULTIFAMILY GROUP
ABOUT US
Transwestern is one of the largest privately–held, full–service
commercial real estate firms in the country.
Since its beginning in 1978, Transwestern has grown from a Houston development company, to
a regional management services firm, to a full–service, national firm combining comprehensive
national knowledge with outstanding local and regional market insights and highly effective
execution capabilities.
AT L A N TA
AU ST IN
B A LT IM O RE
B E T H E S DA
B O STO N
C H ICAG O
DA L L A S
DENVER
D E T RO IT
FT. L AUDE R DA LE
FO RT WO RTH
G RE E N W I C H
H O U STO N
LO S A N G E LE S
M IA M I
M ILWAUK E E
M IN N E A P O LI S
N E W J E R SE Y
N E W O R LE A N S
N E W YO R K
N O RTH E R N VI R G I N I A
O K LA H O M A C I TY
O R A N G E CO UN TY
O R LA N DO
PHOENIX
SA LT LA K E C I TY
SA N A N TO N I O
SA N DI E G O
SA N F R A N C I SCO
SA N J O SE
SE ATTLE
ST. LO UI S
WA LN UT C R E E K
WA SH I N GTO N DC
OMNI PROJECTS
LOOKOUT RIDGE
Transwestern was founded to develop, operate and own investment–
grade commercial properties. Today it employs more than 1,780
people in major markets across the U.S. Since its founding in 1978,
Transwestern has moved from a regional management services firm
to a national service and development firm in relatively short order.
In the 1990’s, Transwestern’s more traditional leasing, management and development services were
rounded out by the addition of an investment services practice and a tenant advisory practice. One
of the firm’s most notable mergers in its 30+ year history was that with Washington, D.C.–based
Carey Winston. Establishing this Mid–Atlantic region expanded Transwestern’s national presence
while complimenting the company’s reputation as a service–oriented business. In 1999, the company
began itslong partnership with the Environmental Protection Agency’s (EPA ) ENERGY STAR
benchmarking program and established a sustainability practice.
The onset of the 21st century brought tremendous growth for Transwestern through the addition
of key leadership, transactional personnel and a sharp focus new business development efforts.
Looking to build upon its national success, the company implemented several initiatives that
resulted in significant expansions in the Southeast, Midwest and Western U.S. Today, the company
continues to seek out partnerships and opportunities that are not only a benefit to it, but that will
be of benefit to its clients’ long–term business goals and plans. Transwestern continues to guide the
path to green for the entire industry and serves as a key leader in sustainability and green practices
through its partnerships with ENERGY STAR and USGBC. Despite current economic conditions, the
company remains committed to the idea of opportunistic expansion in order to meet and exceed
client expectations.
For over 30 years, through momentous change and growth, Transwestern has been diligently
focused on being the best partner for its clients. We know that good business is built on
relationships. With a goal to stay true to core values, we continue to build and maintain relationships
through superior performance and keen local market insight.
James Roberts
Secondary Markets Specialist
214.446.4568
[email protected]
Taylor Snoddy
Managing Director
972.774.2555
[email protected]
Philip Wiegand
Vice President
214.446.4569
[email protected]
Lauren McLarnon
Marketing Coordinator
972.774.7509
[email protected]
Suzy Reed
Financial Anaylst
214.446.4543
[email protected]
Devin Etzold
Graphic Designer
972.774.2535
[email protected]
5001 Spring Valley Road
Suite 400W ∙ Dallas, Texas
T 972.774.2500 ∙ F 972.991.4247
www.transwestern.net