2940 W. Royal Lane, Irving, TX 75063
HOLD PERIOD: 3 Years
KEY PERFORMANCE METRIC: 70% IRR
YEARS HELD: 2013 -2016
Santa Rosa, a 476-unit Class A multi-family property located in the Las Colinas community outside Dallas, was renovated and managed by Wingate. Las Colinas is home to 7,500 highly regarded employers occupying 30 million square feet and employing 144,000 people. The transaction demonstrates Wingate’s ability to identify an underperforming asset in a world-class community and significantly improve it. The pro forma sale price was exceeded by $24 million and Wingate generated a 70% IRR, earning investors a cash-on-cash return of 4.4x.