The Village at Lionstone

A value-add purchase of a 288 unit apartment community, built in 1985, on a 11.3 acre site. The 288 units include 42% one-bedroom units and 58% two bedroom units. The property was acquired at a significant discount to replacement cost, an attractive going-in yield, and an opportunity to significantly upgrade the common areas, amenities and unit interiors. The capital improvement program included a completely renovated clubhouse, exterior paint, pool and spa upgrades, landscaping upgrades, a new perimeter fence, parking lot improvements, concrete and stairwell improvements, new playground equipment and unit renovations. Seagate rebranded the property immediately after purchase as well.

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