In August 2017, JoCo Partners announced the sale of the Curve at River Road Apartments in San Marcos, Texas for $10.7 million, yielding a 42% IRR to our investors.
JoCo acquired this 116-unit property in the Fall of 2015 for $6.025 million. After purchase, the property experienced a major flood affecting many units.
JoCo Partners through their related companies responded quickly and not only made reparations from this catastrophe, but also implemented their comprehensive exterior and interior renovation plan for the entire complex including:
- Granite Countertops
- Glass mosaic backsplash and tiled tub surrounds
- New landscaping and pool refurbishment
- Installation of Dog Park, BBQ Pits, and Pergolas
- New HVAC systems in select units
- New Paint of the entire community
- Upgrades to fixtures, appliances, and bathroom plumbing
- Solar Screen Installations
- LED Lighting, Gutter replacements, and other safety improvements for residents
Watch the video of the renovation process:
JoCo Partners has a track record of positioning acquisitions to secure steady cash flow while maximizing upside potential for disposition. Currently, JoCo Partners oversees the performance on more than 2200 rentable units, over $180 Million in asset value, including office and retail, with the great majority of its focus in multi-family properties.