Irving, TX — Nov. 13, 2020 — The Monterey apartments, recently sold by Elmstone Group OP2, LLC, successfully allowed its investors to realize strong, double-digit returns on their original investment in four years. In spite of the recent economic unrest associated with a pandemic and the US elections, the profitable sale of The Monterey proves that the North Texas market is still strong and thriving and demonstrates the possibilities in this market.
Focusing on Class B and C properties in the Dallas/Forth Worth-area, the Elmstone Group has developed a reputation for delivering both quarterly cash-flow to investors in addition to a very respectable equity gain upon sale. The Monterey, which the Elmstone Group purchased in October 2016, completed the group’s fifth multifamily sale, while still holding other properties for cash flow and potential future equity capture to investors.
“The Irving market offers incredible potential for investment opportunities. It has proven to be highly beneficial to Elmstone Investments and their investor group”, said Shari Gould, CEO, Elmstone Group Property Management, LLC. The sale was another sale facilitated by Chris Deuillet, Senior VP, CBRE. The Elmstone Group properties, managed by Elmstone Group Property Management, LLC, continues to thrive in the multifamily arena as a result of hands-on, local management and ownership.
About the Elmstone Group
The Elmstone Group is a collection of fully integrated, specialized Real Estate companies. The Elmstone Group is a regionally recognized leader within the Texas Real Estate industry with a full spectrum of services, simplifying acquisitions, asset management, rehabilitation, repositioning and disposition of multifamily assets.