Over 40 years, Performance Properties has excelled negotiating the acquisition of undervalued apartment properties, sizing up their needs, and being able to execute a repositioning plan, whether that be a mild cosmetic makeover or a complete shut-down and renovation of the entire property top to bottom.
We see significant opportunity over the foreseeable future in acquiring and repositioning multifamily properties that for one reason or another have not met their potential.
In late-2013, we acquired the 416-unit Vista Buena Apartments in North Dallas in the Northwest quadrant of the High Five (IH-635 and I-75). We spent $1,000,000 in renovations to the property to reposition the property within its submarket. It is currently 97% occupied.
In 2014, we acquired the 370-unit Linda Vista Apartments, next door to Vista Buena, giving us almost 800 units of apartments and over 25 acres of land in this strategically located neighborhood. Linda Vista is also 97% occupied.