Encore 6162 Case Study

$42.3 MM Multi-Family Development – Dallas, TX

Encore 6162 - Dallas, TX
  • In November 2012, Encore began development on a class-A urban infill development minutes away from Uptown, one of most vibrant neighborhood in Dallas for millennials
  • The project was a 288 unit, four story wrap design with 215,000 total square feet
  • Encore possessed a land acquisition advantage due to strong relationships with local land brokers, which provided the Company with a “first look” before other developers
  • Locked-in constructions costs prior to significant escalation in market pricing; built to $102/SF vs. 2016 construction pricing for similar product at ~$145/SF
  • The marketing and leasing strategy was driven by the development of a sleek, new, modern building that would attract millennials
  • In two and a half years, the project sold for over a 2x equity multiple