THE PRESERVE AT COLONY LAKES

THE PRESERVE AT COLONY LAKES

1000 Farrah Lane Stafford, TX 77477

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Beneficial Interests: $17,400,000

Offering Price: $43,800,000

  • Loan Proceeds: $26,400,000
  • Loan-to-Offering Price Ratio: 60.27%
  • Cash Flow : 6.14%
  • Minimum Investment[1031]: $1,246,027
SCHEDULE A CONSULTATION

The Preserve at Colony Lakes is located on the border of Stafford and Sugar Land, in Fort Bend County, Texas, approximately 20 miles southwest of Houston. The surrounding area of Sugar Land, due to economic development initiatives, is one of the fastest growing cities in Texas.

THE PRESERVE AT COLONY LAKES

The Preserve at Colony Lakes is a 420 unit class A apartment community located in Stafford, Texas. The property, comprised of 17 three story buildings and a free standing clubhouse, was built by Fairfield Residential LLC in 2004.

INVESTMENT HIGHLIGHTS

The Preserve at Colony Lakes is located on the border of Stafford and Sugar Land, in Fort Bend County, Texas, approximately 20 miles southwest of Houston. The surrounding area of Sugar Land, due to economic development initiatives, is one of the fastest growing cities in Texas (over 158% growth in the past decade) and is consistently selected as one of the nation’s top communities to live and work (ranked 3rd in top 100 places to live in the U.S.) Fort Bend County is the 20th fastest growing county in the nation with over 39% growth since 2000. The overall Houston economy has experienced tremendous growth (69,500 jobs created since mid-2006) ranking it as the fifth hottest job market in the U.S. Although growth has moderated in the past few months, the Houston area is projected to continue at a steady pace, well above the national average.

Investor Projections – $495,000 (2.845% Interest) Base Case

Projections based on 83% economic occupancy

PROPERTY OVERVIEW

THE PRESERVE AT COLONY LAKES

The Preserve at Colony Lakes is a 420 unit class A apartment community located in Stafford, Texas. The property, comprised of 17 three story buildings and a free standing clubhouse, was built by Fairfield Residential LLC in 2004. Stafford, Texas (directly adjacent to Sugar Land) is located in the Fort Bend submarket and is a suburb of Houston, located within 20 miles of the Central Business District, the Galleria and the Medical Center–the three most prominent employment areas in Houston. Considering the current barriers to entry into the market coupled with the strong economic indicators for the Houston area, we believe the property to be well positioned for stable, continuous growth.

PROPERTY AMENITIES

  • Gated Entry
  • Two Resort Style Swimming
  • Pools, Including Heated Spa and Fountains
  • Detached Garages
  • Covered Parking
  • 9ft. Ceilings
  • 24hr Athletic Club
  • Executive Business Center
  • Barbecue Grill
  • Full Size Washer and Dryer
  • Included
  • Vaulted Ceilings

ABOUT CREEKSTONE PARTNERS , LLC

From its beginning in 1988 as a commercial construction company, the entity now known as Creekstone Companies has grown to become one of the nation’s most prominent real estate corporations with a diverse portfolio of multi-family and commercial real estate strategically located throughout North America. When Stephen Keller and Everett Jackson founded Creekstone Builders, the first of the Creekstone Companies, their vision was to evolve into a vertically integrated real estate development company. Since that time, Creekstone Builders and sister company Creekstone Capital have built, owned and/or managed more than $1.2 billion in properties with more than $500 million of new development in the pipeline.
In 2003, through a focus on growth management through acquisition, Keller and Jackson created Creekstone Partners with the mission to acquire, manage and increase the value of acquired properties.
For more than 21 years, their strategy has focused on asset creation, acquisition and construction of superior properties and geographic diversity. Creekstone’s attention to detail and “I Care” attitude is paramount to current and future success. Detail in due diligence, budgeting, financing, design, construction and property management have distinguished Creekstone as one of the top companies in the industry.
 
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