Last updated: 13:28 / Monday, 2 November 2015
Fort Worth and Houston

Lloyd Jones Capital Acquires Two Texas Apartment Communities

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Lloyd Jones Capital Acquires Two Texas Apartment Communities
  • Lloyd Jones Capital has acquired the Carol Oaks and the Villa Oaks apartment communities in Fort Worth and Houston
  • Both currently producing cash flow, and with selective renovations and exciting rebranding they will prove to be fabulous opportunities for investors, the company says
  • Two additional properties – in St. Petersburg, FL and Houston - are scheduled for closing in the next few weeks
  • The Miami-based multifamily investment firm specializes in multifamily investment in FL, TX and the Southeast

Lloyd Jones Capital, a Miami-based multifamily investment firm, has acquired the Carol Oaks and the Villa Oaks apartment communities in Fort Worth and Houston, respectively. Both are considered exceptional value -add opportunities which the company anticipates improving and rebranding in order to enhance the asset value.

Says Chris Finlay, Chairman/CEO, “These properties are a great fit for our value-add portfolio. They are both currently producing cash flow, and with selective renovations and exciting rebranding they will prove to be fabulous opportunities for our investors.”

The Carol Oaks is a gated community consisting of 224 units on 18 acres. It is undergoing rebranding to the company’s proprietary ‘Vibe” concept that offers high tech opportunities for its residents with Wi-Fi and collaborative work areas. It is now called The Vibe at Landry Way.

The Houston property, Villa Oaks, with 212 units of affordable housing will be rebranded as TownParc at Sherwood. This townhouse community offers large units with numerous floor plans.

According to Finlay, two additional properties – in St. Petersburg, FL and Houston - are scheduled for closing in the next few weeks. These will add an additional 610 units to the company’s growing investment portfolio.  Finlay says “One of the things that gives us great confidence in the ability to turn these C and B properties into C+ and B+ assets is Finlay Management, Inc., our property management arm.” He explains that the company is an Accredited Management Organization (AMO) In fact the company was named “AMO of the Year” of North FL for 2013 by IREM (Institute of Real Estate Management.)

The company specializes in multifamily investment in FL, TX and the Southeast. The company acquires well located, cash-flowing assets with value-add potential.  It was founded by real estate veteran, Chris Finlay, who has over 35 years in the multifamily industry.

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