Real Estate Investments
Stadium View
College Station, TX
Stadium View is a garden-style student housing community located adjacent to (0.1 miles) Texas A&M University in College Station, TX. The property is a well-maintained asset as previous ownership completed renovations including new siding, roofs, and landscaping. Crescent Sky has the ability to complete light interior renovations as needed. The property has a coveted unit mix consisting of 2-bedroom/2-bath and 1-bedroom/1-bath layouts.
​​Business Plan: Light value add, bring rents to market levels​
​Property Type: Student Housing​
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Seminole Trails Apartments
Tallahassee, FL
Seminole Trails Apartments is a student housing apartment complex with a highly desirable unit mix consisting of 90% one-bedrooms located in the Tallahassee, FL MSA. Tallahassee ranked as a top 20 MSA for growth by Crescent Sky’s proprietary model at the time of acquisition. The investment was financed through the assumption of Freddie Mac non-recourse debt.
Business Plan: Light value add, bring rents to market levels
​Property Type: Student Housing
University Edge
Waco, TX
University Edge is a garden-style student housing community located within walking distance to (0.3 miles) Baylor University in Waco, Texas. Baylor is the oldest continually operating university in Texas and has seen enrollment increase by over 20% in the last 5 years.
Crescent Sky has the ability to complete light interior renovations as needed such as modern hardware, faucets, and fixtures. The units provide a very desirable 1-to-1 bed-to-bath ratio. Also, each room has its own coveted walk-in closet.
​​Business Plan: Light value add, bring rents to market levels​
​Property Type: Student Housing​
Crescent Ridge
Tallahassee, FL
Crescent Ridge is a garden-style apartment community located in the Tallahassee, FL MSA. Tallahassee ranked as a top 20 MSA for growth by Crescent Sky’s proprietary model at the time of acquisition. The property was mismanaged and in need of improvements. Crescent Sky has planned a major renovation of the entire community.
Crescent Sky has enacted a significant value-add program across the property. Full renovations include new kitchen appliances, refurbished cabinets and countertops, new lighting and fixtures, full paint, new flooring, new bathrooms, and refinished tubs and showers.
​​Business Plan: Value add to bring rents to market rates​
​Property Type: Garden Style Apartments​
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Castle Apartments
Tallahassee, FL
Castle Apartments is a quad-apartment community located in the Tallahassee, FL MSA. Tallahassee ranked as a top 20 MSA for growth by Crescent Sky’s proprietary model at the time of acquisition.
The investment was financed with a combination of agency and non-agency debt. Unit exteriors are very well maintained while interiors were somewhat dated but in very good condition, allowing for a modernization program.
​​Business Plan: Value add, bring rents to market levels​
​Property Type: Garden Style Apartments
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Mill Run
Tallahassee, FL
Mill Run is a garden-style apartment community located in the Gainesville, FL MSA. Gainesville ranked as a top 20 MSA for growth by Crescent Sky’s proprietary model at the time of acquisition. The property is a broken condo which presented financing issues that many investors could not address. Crescent Sky was able to overcome this hurdle and successfully secured financing.
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CSC has partnered with a local property manager to actively manage the property. Crescent Sky has enacted a significant value add program across the property. Full renovations include new kitchen appliances, refurbished cabinets and countertops, new lighting and fixtures, full paint, new flooring, new bathrooms, and refinished showers.
​​Business Plan: Value add, bring rents to market levels​
​Property Type: Garden Style Apartments​
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Amberwood Hills
Lake City, FL
Amberwood Hills is a garden-style apartment community located in the Gainesville-Lake City, FL Combined Statistical Area. Gainesville ranked as one of the top 20 MSAs for growth based on Crescent Sky’s proprietary model at the time of acquisition. The property was mismanaged and in need of improvements. Crescent Sky has planned a major renovation of the entire community.
CSC has partnered with a local property manager to actively manage the property. Crescent Sky has enacted a significant value-add program across the property. Full renovations include new kitchen appliances, refurbished cabinets and countertops, new lighting and fixtures, full paint, new flooring, new bathrooms, and refinished tubs and showers.
​Business Plan: Value add, bring rents to market levels​
​Property Type: Garden Style Apartments​
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Vertex
Tallahassee, FL
Vertex is a garden-style student housing community located blocks (0.5 miles) from Florida State University in Tallahassee, FL. Tallahassee ranked as a top 25 MSA for growth by Crescent Sky’s proprietary model at the time of acquisition.
The property is a well-maintained asset as previous ownership completed interior renovations on many of the units, replaced the majority of roofs, fully repainted building exteriors, and enhanced amenities and common areas. Crescent Sky has the ability to complete interior renovations on the remaining classic units.
​​Business Plan: Light value add, bring rents to market levels​
​Property Type: Student Housing​
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North Point Villas
Gainesville, FL
At purchase, North Pointe Villas was a challenged property and in sub-par condition prior to Crescent Sky’s acquisition. Additionally, the property was a broken condo which presented financing issues that many investors could not address. Crescent Sky priced the transaction with these challenges in mind, secured financing, and partnered with a local property manager to actively manage the property.
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Crescent Sky quickly enacted a significant value add program across the property. Full renovations including new kitchen appliances, refurbished cabinets and countertops, new lighting and fixtures, full paint, new flooring, new bathrooms, and refinished showers were completed. North Pointe Villas was awarded Renovated Community of the Year 2021 by the North Central Florida Apartment Association.
​​Business Plan: Heavy value add, bring rents to market levels​
​Property Type: Garden Style Apartments
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Villas at Ashton Square
Gainesville, FL
The Villas at Ashton Square is a garden-style apartment located in the Gainesville, FL MSA. Gainesville ranked as a top 20 MSA for growth by Crescent Sky’s proprietary model at the time of acquisition.
Crescent Sky took over the management of the property and hired the previous on-site property manager to ensure continuity. A renovation program commenced including adding washer dryers, refurbishing cabinets, replacing carpets, and painting select units.
​​Business Plan: Value add, bring rents to market levels​
​Property Type: Garden Style Apartments
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Villas at High Springs
High Springs, FL
The Villas at High Springs is a garden-style apartment located in the Gainesville, FL MSA. Gainesville ranked as a top 20 MSA for growth by Crescent Sky’s proprietary model at the time of acquisition.
Crescent Sky took over the management of the property and hired the previous on-site property manager to ensure continuity. A renovation program commenced including adding washer dryers, refurbishing cabinets, replacing carpets, and painting select units.
​​Business Plan: Value add, bring rents to market levels​
​Property Type: Garden Style Apartments
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Campus Row
Tallahassee, FL
​Campus Row is a garden-style student housing community located blocks (0.3 miles) from Florida State University in the Tallahassee, FL. Tallahassee ranked as a top 25 MSA for growth by Crescent Sky’s proprietary model at the time of acquisition.
The property is a well-maintained asset as previous ownership completed interior renovations on many of the units, replaced the majority of roofs, fully repainted building exteriors, and enhanced amenity and common areas. Crescent Sky has the ability to complete interior renovations on the remaining classic units.
​​Business Plan: Light value add, bring rents to market levels​
​Property Type: Student Housing​
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ABQ Encore
Albuquerque, NM
ABQ Encore is a garden-style apartment community located in Albuquerque, NM. Albuquerque ranks in the top quartile for anticipated housing price and rent appreciation by Crescent Sky’s proprietary model at the time of acquisition.
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Crescent Sky has partnered with a local property manager to actively manage the property. Crescent Sky has enacted a value-add program across the property. Renovation plans are focused on enhancing the common areas of the property.
​​Business Plan: Value add, bring rents to market levels​
​Property Type: Garden Style Apartments
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Uptown Horizon
Albuquerque, NM
​Uptown Horizon is a garden-style apartment community located in Albuquerque, NM. Albuquerque ranks in the top quartile for anticipated housing price and rent appreciation by Crescent Sky’s proprietary model at the time of acquisition.
CSC has partnered with a local property manager to actively manage the property. Crescent Sky has enacted a significant value add program across the property. Full renovations include new kitchen appliances, refurbished cabinets and countertops, new lighting and fixtures, full paint, new flooring, new bathrooms, and refinished tubs and showers.
​​Business Plan: Value add, bring rents to market levels​
​Property Type: Garden Style Apartments
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Firestone Drive
Chandler, AZ
Purchased in January 2019 and located in a sought-after neighborhood of the fast-growing city of Chandler, Arizona. Chandler is in the Phoenix Metropolitan Statistical Area which has consistently ranked top 5 for growth by Crescent Sky’s proprietary model in the past several years.
At purchase, the property was 15 years old and in need of light improvements and upgrades, and therefore Crescent Sky was able to purchase the property at a slight discount to the market. A light renovation program commenced including painting, landscaping, replacing carpets, and repairing the pool.
​​Business Plan: Opportunistic investment in a growth market
​Property Type: Rental