Asset Description

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• Garden style community
• 25 buildings, 1 club house/leasing office, 2 laundry centers
• 1983 construction, 280 apartments
• B level asset
• Tenant base consisting mainly of singles and families working in a variety of industries in and around Irving

Geographic Selection Criteria

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• Dallas/Fort Worth Metroplex
• Immediate highway access to 1.8 million jobs within a 30 minute drive
• Irving (population 241,260) employs more than 230,000 business professionals, making it the 3rd largest employment center in North Texas
• Over 8,500 local and multi-national firms (including six Fortune 500 companies) operate global headquarters in Irving
• Rated one of the top 50 best places to live by Bloomberg
• Within 5 miles to Los Colinas, an upscale neighborhood of Irving boasting 25 million square feet of office space and home to more than 2,000 companies including four Fortune 500 companies
• Minutes away from DFW International Airport, the 9th busiest in the world. DFW employs 60,000 workers and supports over 300,000 jobs. The airport is in the midst of a $2.3 billion renovation which is slated to be complete by next year
• Other location highlights include: Irving Mall (130 stores & 14 screen theater) Freeport Business Park, Baylor Scott & White Medical Center (1,124 employees), North Lake College (8,000 students) and University of Dallas ( 4,700 students)

Transaction Highlights

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• Ladera Ranch underwent a significant exterior renovation prior to Aldwin’s purchase
• Occupancy in the mid to high 90% post renovation

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