Mesa Verde
3201 Duval Road , Austin, TX 78759
Mesa Verde, a 358-unit multi-family property located in North Central Austin, directly across MoPac from The Domain, was renovated and managed by Wingate. Strategic improvements to the property included renovation of amenity spaces, community landscaping improvements, and major interior upgrades in 318 (89%) of the units. The property’s condition and superior infill location made Mesa Verde an attractive investment opportunity for an institutional buyer. As a result, Wingate was able to beat pro forma sale expectations by approximately $12 million and generated a 36% annual return to investors, who realized a cash-on-cash return of 2.6x.