Investcor Capital partnered with Casoro Group with this investment opportunity to purchase The Quinn at Westchase, a 737-unit multifamily portfolio comprised of two properties located in the Westchase district of Houston. This acquisition gave our investors a rare opportunity to invest into one of the most sought-after Houston neighborhoods at below market pricing coupled with true operational/management upside.

In the past year, this 1978 vintage asset has received nearly $7 million in value added capital to the exteriors and approximately 45% of the interiors. The property was vastly underperforming its comp set due to extraordinarily poor management and poor implementation of a flawed business plan. With the property less than 60% occupied, the previous ownership and management team proved itself ill equipped to manage an asset of this size and complexity and ultimately ran out of funds. Together, we were able to acquire the asset at below market value coupled with a lot of value add upside potential.

Our strategy for this property is to drastically increase cash flows through implementation of its own vertically integrated management team, property clean up, and a light exterior amenity value add program. Casoro Group will bring in an experienced team from Houston who have excelled in similar lease up situations and who have proven capable of executing this business plan.