ADDITIONAL HOLDINGS
Legends at Pasadena Hills
In April 2021, Fund IV acquired 324 apartments in St. Louis, Missouri. The property had been neglected and was more than 50% vacant with substantial deferred maintenance.
To date, we have improved more than 125 apartment interiors, replaced all 108 ground level patio retaining walls, replaced or repaired all roofs, renovated the leasing office, serviced and brought the pool online, and have begun updating interior stairwells. There is still a long way to go with this large project, but we have made substantial progress and look forward to seeing this one to the finish line.
Huntley Ridge East
STRAQR Fund V acquired 365 apartments in Frankfort, Kentucky in July 2022 from two different owners. The apartments had long-term ownership, and apartment interiors had minimal updates.
The Frankfort market had a large number of "C" quality apartment properties and one newer construction "A" property. Since our purchase, our management team has worked tirelessly to reposition each location to fill the void of "B" properties in the market. We have renovated or updated a substantial portion of the apartment interiors, replaced multiple roofs, updated many electrical panels, and have begun improving common area hallways and stairwells.
The resident reaction to our improvements has led to many resident referrals. We are excited to offer area residents an update living option in the Capital of Kentucky.
Tudor Crossing
In July 2022, STRAQR Fund IV acquired 170 apartments in Oklahoma City, OK. This is the last apartment purchase in Fund IV.
These well-located apartments have gone through multiple ownership changes without any substantial interior improvements. We plan to immediately get underway with substantial improvements including all new windows, gutters/downspouts, repair or replacement of exterior walkways and stairs, landscaping, and full cosmetic interior improvements to many units (cabinets/counters, flooring, two-tone paint, light fixtures, etc.).
Flanked by major retail on three sides (Chick-fil-a, Starbucks, Best Buy, and many others), the property is perfectly located to provide an upgraded living option for area residents.
Florissant, MO Purchase
In December 2022, Fund VI closed on the purchase of a total of 165 senior living apartments across two sites within two miles of one another in Florissant, Missouri. One site is 93% occupied and will receive a new roof and cosmetic updates. The second site is now vacant and will undergo a renovation to provide both classic and premium senior market rate apartments. We will be excited to offer the only indoor Pickel Ball court in the area along with a number of renovated apartments to give prospective residents two levels of finishes to choose from.