Ashland Greene, with the help of secured government-backed liquidity and fixed-rate financing, recently acquired two apartment communities in North Texas. This marked the closing of its Value-Add Fund VI and increased their current portfolio to more than 5,300 units across 19 properties. Since December 2021, Ashland Greene has sold six properties for an actualized average annual return of 28 percent. The two new properties had a combined investment value of $92 million.
Hunter’s Cove in Grand Prairie (now Ronan Apartment Homes) was 92.1 percent occupied at acquisition time according to Multihousingnews.com; Ashland Greene also secured a $17.4 million Freddie Mac loan for this purchase from Western Wealth Capital . Village on the Green is projected to become a showcase asset as it will undergo Ashland Green’s first “restore-to-core” renovation – upgrading Cleo Luxury Apartments so that they can compete with surrounding Class A assets .
