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Advenir Acquisition: Odessa, TX

Oct 31, 2019

Advenir at Legado Ranch is ideally located in the affluent, rapidly expanding, Faudree submarket of Odessa, Texas. Advenir at Legado Ranch will benefit from strong job growth, in-migration, strong and stable long-term economic drivers, minimal new apartment and single family construction, and significant barriers to entry. Advenir at Legado Ranch sits among a small group of properties-built post 2013. The Property’s effective rent is discounted in comparison with older and inferior competition, partially because it is in lease-up, and also because it is currently under-managed. Resort style amenities combined with a diverse unit mix, containing unique studio floor plans, creates a strong value proposition for renters.

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