Case Study | Encore Highpointe Park

Name: Encore Enterprises
Address: 6900 Dallas Pkwy, Third Floor Plano,, Plano, TX, 75024, US
Telephone: 214-259-7000
Price range: $$

Case Study | Encore Highpointe Park $40.8 MM Multi-Family Development – Denver, Co Asset Class A suburban development, 3-4-story, walk-up, and

Case Study | Encore Highpointe Park $40.8 MM Multi-Family Development – Denver, Co Asset Class A suburban development, 3-4-story, walk-up, and

$40.8 MM Multi-Family Development – Denver, Co

Asset	Class A suburban development, 3-4-story, walk-up, and tuck-undergarages
Acreage / Units	2.9 acres, 220 units
Square Footage	Total: 209,093, average unit size: 950
Land Acquisition / Disposition	December 2011 /December 2013
Total Capitalization	$26.01 mm, $8.5 mm invested equity
Financing / LTV	Conventional / 67%
Total Exit Value	$40.75 mm, $12.77 mm equity proceeds

Land contracted for in April, 2010 prior to construction boom and run-up in land values; $9,000/unit vs. $22,000/unit in 2016
Construction costs in 2012/2013 were well below current costs due to early stage of recovery from 2008-2010 recession; built to $100/SF vs. $167/SF in 2016
High drive-by visibility just off I-25 drove qualified traffic
First new units in North Denver suburb made Encore the only new product in the sub-market

Financial Highlights

Encore Enterprises, Inc.
5005 LBJ Freeway
Suite 1200
Dallas, TX 75009

<a href=”tel:2142597000″214-259-7000

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