It seems like you see this all the time. Why do apartment complexes change names so much? I could understand doing it if they were bought out and had a bad previous reputation but with as much as I see it happening in Austin, that can't possibly be the case all the time.
Post Reply
1 of 1
Apartment complexes changing names all the time?
2,349 Views |
8 Replies |
Last: 4 yr ago by dc509
The model used to be raise cash to buy an older asset, spruce it up, increase the NOI refi or sell at the new cap rate to pay off investors.
Now rents just keep going up and up and assets are changing hands is my guess.
Now rents just keep going up and up and assets are changing hands is my guess.
It's most likely new ownership wanting to rebrand. Austin is an incredibly hot market for multi.
There's a handful of apartments in The Woodlands that are constantly changing names as well. They're not the best apartments and have been around for years. But then there are some that have been around for 30+yrs and have never changed names. It's like putting lipstick on a pig, they can try to fancy up the names and make it seem hip and cool but just looking at them you know they're a dump.
In the woodlands proper most of the high end apartments would be owned by Howard Hughes who is the master plan developer. Those won't ever really trade.
Class B apartments in the outskirts will trade quicker as there's an unlimited amount of buyers wanting to rehab and flip them.
Class B apartments in the outskirts will trade quicker as there's an unlimited amount of buyers wanting to rehab and flip them.
I change the name of apartments we buy 100% of the time
We require every buyer of a community that we sell to change the name as do most owners that have a consistent trade name on their properties. Can't have someone else diluting or tarnishing your brand. The vast majority of Class A assets that trade are rebranded and lots of Class B/C deals that are bought to renovate change names post renovation.
Tons of transactions going on in Austin and I imagine some deals are being re-sold after a much shorter than normal hold period given the crazy investor demand and pricing.
Tons of transactions going on in Austin and I imagine some deals are being re-sold after a much shorter than normal hold period given the crazy investor demand and pricing.
new ownership/management wants to re-brand. May allow them to distance themselves from poor onine reviews from the previous name
Or existing owners trying to distance themselves from too many negative reviews by changing names, would be my guess.
Absolutely. It's wild right now.FTAco07 said:
We require every buyer of a community that we sell to change the name as do most owners that have a consistent trade name on their properties. Can't have someone else diluting or tarnishing your brand. The vast majority of Class A assets that trade are rebranded and lots of Class B/C deals that are bought to renovate change names post renovation.
Tons of transactions going on in Austin and I imagine some deals are being re-sold after a much shorter than normal hold period given the crazy investor demand and pricing.
Featured Stories
See All
50:41
1d ago
6.5k
FINAL/3OT: Texas A&M 94, Louisiana State 91
by Luke Evangelist
8:02
6h ago
2.7k
Sorrell homers on 21st birthday as No. 22 A&M sweeps Oakland
by Richard Zane
This Week on Take Five: Sharp, Beck, Kiel & Harrison
by Richard Zane
Keys to the Game: Texas A&M at Louisiana State
by Luke Evangelist
Aldo the Apache
Postgame Discussion: A&M outlasts LSU and punches their ticket to March
in Billy Liucci's TexAgs Premium
93
@coopercuffe
I hope Miami (OH) gets boat raced in the tournament
in Billy Liucci's TexAgs Premium
91
RAM700BA
Postgame Discussion: A&M outlasts LSU and punches their ticket to March
in Billy Liucci's TexAgs Premium
66