Rowan Multifamily Advisors is pleased to announce the closing of the 172-unit Wichita Falls Portfolio consisting of nine (9) multifamily communities located in Wichita Falls (2) and the surrounding communities of Burkburnett (1), Iowa Park (1), Electra (1), and Holliday (4). Each property is within a 20-30 minute drive of Wichita Falls, where the largest concentration of units is (74 units between The Edge & Avenue H communities). The properties are all currently run together with a staff consisting of one regional manager and leasing agent who office out of The Edge, two maintenance staff dedicated to The Edge, two roaming maintenance staff, and one maintenance staff located in Holliday that services the four (4) communities located there
Interior and Exterior Highlights
The Wichita Falls portfolio consists of nine (9) different communities built between 1960 and 1985. All but one of the properties has pitched roofs, and each property has individual HVAC units. A majority of the units in Iowa Park and Holliday have new windows and insulation. On the interiors approximately 80% of The Edge, and 50% of the remaining properties have upgraded faux wood flooring. The properties located in Holiday have had over 50% of the HVAC units replaced in the last year..