National Asset Services Delivers Cumulative Return-on-Investment of Over 22% for Investors in Texas Student Housing Property
HUNTSVILLE, Texas, Jan. 31, 2017 /PRNewswire/ -- National Asset Services (NAS), one of the Country's leading commercial real estate companies, has successfully delivered a cumulative return on investment of over 22% to full-term investors in Gateway at Huntsville, a student housing property serving students enrolled at Sam Houston State University.
NAS spearheaded an effective exit strategy that resulted in the recent sale of the property on behalf of a nineteen member, Tenant-in-Common (TIC) group. The exit strategy resulted in the recent sale of the property, ahead of an impending loan maturity. Upon taking over asset management of the student housing property in April 2011, NAS aggressively executed a comprehensive asset preservation strategy that included new onsite property management, accumulation of cash to offset property operations and maintenance and an aggressive leasing strategy coupled with effective cost controls. The property was 100% leased entering the 2016-2017 school year. Since mid-year 2014, monthly cash disbursements to investors ranged from 4.5% to 5%.
'We are delighted to have delivered a substantial rate of return for our clients at Gateway at Huntsville during the hold period and maximizing the market value of the property at the time of the sale," commented Karen E. Kennedy, President and Founder of National Asset Services. "Our performance at this student housing property underscores our proven ability to deliver positive results for investors in any class of commercial property."
Gateway at Huntsville is located about two miles Southeast of the Sam Houston State University campus, which has an enrollment of over 20,000 students. Situated on 11.74 acres, the 160-unit, 416-bed, student-living apartment community consists of four three-story and two four-story wood frame residential buildings and a single-story brick and stucco building consisting of office and clubhouse. The residential buildings contain 251,208 sf of net rentable area, which equates to an average unit size of 1,102 sf. The property features such amenities as three resort -style swimming pools, a lighted basketball court and a tanning bed.
About National Asset Services (NAS)
NAS is a commercial real estate management that works with over 90 investment groups in properties of a nationwide portfolio valued at over $2 billion. The company manages a wide range of diverse commercial real estate: Office, medical office, multifamily, retail, student housing, assisted living and industrial flex properties. The company manages solely owned and multi-owner properties. NAS offers a wide-range of asset management capabilities. They include: Real estate strategy analysis; long-range business objectives; monitoring changing market conditions; investor relations; real estate and investor accounting; loan modification and workout solutions; exit and hold strategies; leasing & marketing; tenant retention plans; research studies; site selections; feasibility studies; insurance risk management; capital improvement planning and tracking; property tax appeal services and cost segregation services.
Headquartered in Los Angeles, California, NAS operates regional offices in Chicago, Illinois, and Austin, Texas.
For more information about NAS, visit www.nasassets.com. For industry news and company updates, follow NAS on Twitter @nascommercial.
Contact:
JW Robison
310-364-5213
[email protected]
SOURCE National Asset Services
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