PARK TIMBERS APARTMENTS

LOCATION: Dallas Fort Worth, Texas
TYPE: Residential Acquisition
SIZE: 230 Units
PARTNER: MC Companies

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Park Timbers Apartments is a 230 unit apartment complex located in the Dallas Fort Worth (DFW) Metroplex in the submarket of Lewisville. This property features two swimming pools, a spa, exercise room, and covered parking. Prior to acquisition, the property was recently renovated with a new roof, exterior paint, new patios, and interior carpets.

The DFW Metroplex surpasses all other regions in the U.S in terms of revenue and is home to 2,500 global companies and 24 of the Fortune 500 companies. It was rated second in the nation for employment growth in 2008 with another 600,000 additional jobs projected in the next 7 years. The fundamentals in Lewisville are particularly strong. It is one of the healthiest of the 30 submarkets in the Metroplex, had a total occupancy of over 92% at the end of 2008, and is only 12 miles away from the DFW International Airport, which is the third busiest airport in the world with 2,500 flights a day.

This acquisition is a distress sale as MC Companies feels the property has been mismanaged and has room for significant cash flow growth. The business plan for Park Timbers is to increase cash flow through diligent management and hold the property as a long term investment. Park Timbers is expected to provide regular cash flow distributions to investors and equity appreciation which will be returned through a re-finance or sale of the property.

Our strategic partner in this investment is MC Companies. Founded by Ken McElroy and Ross McCallister since 1985, MC Companies has developed and acquired over $350 million in multifamily properties, totalling over 4,000 units. The company has two offices and over 160 employees. Ken and Ross have over 50 years of combined multi-family real estate experience, are real estate advisors to Robert Kiyosaki and the Rich Dad organization, and have written best selling real estate guides. They are thought to be among the best property managers in the United States. For more information on MC Companies, please visit www.mccompanies.com.

1902 S State Hwy 121 | Lewisville, TX 75067

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