Class A-, 267-unit property located in the Valley Ranch master plan development
DALLAS, Nov. 9, 2023 /PRNewswire/ — Ashland Greene, is pleased to announce the successful closing of its latest acquisition, Devi Valley Ranch.
This class A-, 267 unit, off-market property in the Dallas-Fort Worth (DFW) metroplex features 1-, 2- & 3-bedroom floor plan options, with 86 percent of units having private garages. Ashland Greene secured this asset at nearly a 10% discount on its December 2022 market price. Ashland Greene financed a portion of the purchase price with an agency loan (Freddie Mac) at a fixed 6.25% interest rate, safeguarding investors from future rate increases.
Founder and CEO of Ashland Greene, Shakti C’Ganti, commented on the closing, saying, “Devi at Valley Ranch exemplifies our commitment to seizing on smart real estate opportunities. In the current climate, we have to be mindful of sticking to our proven formula, which includes robust due diligence in property selection and ensuring the right debt approach.”
Devi at Valley Ranch is part of the highly desirable Valley Ranch master plan development, a sought-after location between I-35 and I-635. It offers convenient access to the Dallas Urban Core to the east and the Mid-Cities to the south and sits within the Coppell ISD, which boasts an A+ Niche.com rating.
“As fiduciaries to our investors, we will work diligently to maneuver and manage the changing economic conditions to ensure that we always act in the best interests of our four constituencies, our investors, residents, employees and community,” notes Aalok Parikh, Vice President, Ashland Greene. “We are grateful for the continued trust our investors place in us and remain committed to upholding the highest standards of integrity and transparency in all our endeavors.”
The firm anticipates potential value-add creation of up to $39 million. Given that the area boasts a median household income exceeding $90,000, this asset is ideally suited for the implementation of Ashland Greene’s “AG Diamond Renovation” strategy. This comprehensive renovation plan encompasses an estimated $6.9 million in capital investments, including interior and exterior enhancements, upgrades to both the leasing office and fitness center, and construction of a highly sought-after dog park, which is in high demand throughout the DFW area. Ashland Greene Construction Management will oversee all phases of capital expenditure projects, while AG Living, the property management company, will oversee daily operations.
ABOUT ASHLAND GREENE
Ashland Greene is a Dallas-Fort Worth-based, vertically integrated multifamily investment firm founded in 2017. With a core mission of balancing the needs of residents, investors, employees, and communities, the firm specializes in transforming undervalued properties into thriving communities. The local focus and commitment to trustworthiness have allowed Ashland Greene to transact on 6,700 units, delivering $57M to investors, with a total transaction value of $1.1B. For more information, visit https://ashlandgreenecapital.com/.
THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES. An offering of securities is only made by a Private Placement Memorandum and is only available to “accredited investors” as that term is defined in Regulation D of the Securities Act of 1933. Past performance is not indicative of comparable future results.
SOURCE Ashland Greene
