Terrace Hill Apartments, El Paso

June 11, 2019 Comments Off on RM Adviser Nabs Two Multifamily Complexes in First Direct Buy Views: 425 Texas - Other, Texas News

RM Adviser Nabs Two Multifamily Complexes in First Direct Buy

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RealtyMogul subsidiary RM Adviser made its first direct buy, acquiring two multifamily complexes in El Paso, TX from a private buyer in Del Mar, CA. The investor, also headquartered in California, added the Terrace Hill Apartments and La Privada Apartments to its portfolio, with plans toward property upgrades and a long-term hold.

The investor acquired:

  • The 310-unit Terrace Hill, 4111 Westcity Court
  • The 240-unit La Privada, 9030 Betel

Michael Schoellhammer with RealtyMogul noted that the renovations will have a “green” focus, which will include replacing toilets, shower heads and aerators with low-flow models. “The unit interior renovations will take place in conjunction with common area and amenity enhancements, such as a new playground, pool furniture, upgraded barbecue areas and an outdoor lounge with gazebos,” he added.

Pictured: Terrace Hill Apartments

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