— Albert Lord III, Founder and CEO of Lexerd
SUMMIT, NJ, USA, April 4, 2022 /EINPresswire.com/ — Lexerd Capital Management LLC (“Lexerd”), a New Jersey-based private equity fund sponsor, today announced that the one of his high-yield funds had acquired Hunters Point, a multi-family property in College Station, TX. The property consists of twenty (20) one- and two-story multi-family apartment buildings, with one hundred and eleven (111) residential units. The property’s current amenity package consists of a swimming pool, yard, fenced backyards and laundry facility. Major updates to the property will include refreshing the swimming pool, improving landscaping and lighting, fixing deferred maintenance work such as repairing the woodwork, changing the color of the exterior painting and bringing interior kitchens up to current market standards.
Terms of the transaction were not disclosed.
The property is located near Texas A&M University and Blinn College, in addition to the Northgate District, a center for entertainment, retail and dining. Within five minutes of the property there is a Walmart Supercenter, Starbucks, Chik-Fil-A, three HEB locations, two Lowe’s, Home Depot and St. Joseph Regional Health. Major employers in the area include the named universities, as well as Reynolds and Reynolds, Sanderson Farms & HEB, and CHI St. Joseph Health. The Research Valley/Bio Corridor is minutes from the property and is home to many private and public bio research and manufacturing facilities, such as GlaxoSmithKline, Caliber Biotherapeutics, G-Con LLC, iBio and ViaSat.
Hunters Point will be renamed The Lory of Hunters Point.
“We look forward to announcing the acquisition of Hunters Point, which will soon be renamed The Lory of Hunters Point,” said Albert Lord III, Founder and CEO of Lexerd. “The property is conveniently located, providing residents with close proximity to demand drivers, making it ideal for dual-income households working in different areas of the Bryan-College Station MSA. We appreciate the opportunity to expand the Lory brand into this market.
Lord continued, “As is the case with all of our acquisitions, the newly acquired property will be rebranded under Lexerd’s Lory properties umbrella. The Lory is a brand of high quality property investment and it shows in everything from the quality of the properties we choose to invest in to the caliber of tenants we let. Our primary mission is to preserve capital while generating appreciation and providing investors with stable quarterly distributions. We remain committed to this mission while honoring one of our guiding principles to provide exemplary service to tenants. The Lory brand is committed to our properties for the long term and we are committed to maintaining these brand qualities with The Lory of Hunters Point.
Lexerd Capital Management LLC is a real estate company that primarily sponsors investments in opportunistic multi-family assets across the United States. Lexerd was founded in 2006 by Albert L. Lord III while raising capital and advising on a $440 million bid to acquire Major League Baseball’s Washington Nationals baseball team. Lexerd has managed over $1 billion in assets since its inception.
Lexerd’s core mission of preserving capital while generating appreciation and providing investors with stable distributions begins with an approach that recognizes the distinctiveness of the multi-family real estate asset class and its unique characteristics. The approach is based on the integration of three key considerations (a) a proprietary model for property acquisition, (b) a focus on small to mid-market properties to avoid larger competitors, and (c) effective management of acquired properties. Since 2006, the 3M model has served Lexerd investors by generating excess returns and stable annual distributions.
To learn more about Lexerd’s approach and philosophy, visit Lexerd Capital and follow them on LinkedIn.
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