Lexerd Capital Management LLC Sponsored Fund Acquires Point on Redmond in College Station, TX

Point on Redmond
We are particularly excited about this announcement as it follows our recent acquisition of Hunters Point, also located in College Station, TX.

— Albert Lord III, Founder and CEO of Lexerd

SUMMIT, NEW JERSEY, USA, April 20, 2022 /EINPresswire.com/ — Lexerd Capital Management LLC (“Lexerd”), a New Jersey-based private equity fund sponsor, today announced that the One of its high-yield funds has acquired Point on Redmond, a multi-family property in College Station, TX. The property consists of fifteen (15) two-story multi-family apartment buildings, with one hundred and nine (109) residential units, and two community buildings. The property’s current amenity package includes two swimming pools, picnic areas, a study center, and a fitness center. Major updates to the property will include refreshing the pools, improving landscaping and lighting, fixing deferred maintenance work such as woodwork repairs, changing the color of the exterior painting and adaptation of interior kitchens 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, 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.

Point on Redmond will be renamed The Lory of College Station.

“We look forward to announcing the acquisition of Point on Redmond, which will soon be renamed The Lory of College Station,” said Albert Lord III, Founder and CEO of Lexerd. “We are particularly excited about this announcement as it follows our recent acquisition of Hunters Point, also located in College Station, TX. We are grateful for the opportunity to strengthen our expansion of the Lory brand in 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 College Station.

About Lexerd:
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.

Ronica Cleary
Cleary Strategies, LLC
+1 302-414-9977
write to us here