Trez Capital is pleased to announce the sale of The Beacon on Westmoreland, in Desoto, Texas. The Beacon at Westmoreland was built in partnership with Thompson Realty Capital, LLC on a 10.41-acre tract of land, and offers 194-units in a Class A garden-style apartment complex. Trez Capital provided a $6,307,385 equity investment for the acquisition and construction of the project in February 2019.
The Beacon at Westmoreland is located along the southeast corner of Westmoreland and Beltline in Desoto, just 11 miles south of downtown Dallas. The unit mix consists of spacious homes, including 124 one-bedroom units, 58 two-bedroom units and 12 three-bedroom units. The floor plans range from approximately 550 square feet to 1,180 square feet.
“Our client-first mentality, dependability, and transparency define Trez Capital and has made us a partner of choice for leading real estate developers and owners in Canada and the United States seeking short- and mid-term financing on a diverse range of commercial real estate development projects,” said Chairman and Chief Executive Officer of Trez Capital, Morley Greene. “For years we have been providing equity investment solutions and know that The Beacon on Westmoreland is a strong addition.”
Trez Capital’s joint-venture partnership program provides experienced developers with equity investments for value-add and ground-up developments in key markets with strong population, employment, and GDP growth. In these areas, Trez Capital targets investments in the multi-family, single-family for rent, industrial, and self-storage asset classes. Trez Capital, along with its development partners, intends to provide capital appreciation for investors through the development process and sustainable income from holding properties over the long-term.
“We employ rigorous due diligence in our partner selection process,” said John D. Hutchinson, President of Trez Capital, Central and Southwestern U.S. “We consider numerous factors before participating in a partnership project and rely on our boots-on-the-ground knowledge. This has given us the ability to fund many successful investments and maintain our track record of impressive returns for investors.”
Thompson Realty Capital has over 25 years of experience in acquisition, development, and property management of multi-family, office, and single-family residential projects. The Beacon on Westmoreland is the third project Trez Capital has completed with Thompson Realty Capital. All projects have resulted in higher-than-expected investor returns.
“We are proud to be part of The Beacon on Westmoreland team,” said Tom Field, President of Thompson Realty Capital. “We are a part of the tremendous growth in Texas and the Southwestern U.S. and the ability to work with partners such as Trez Capital ensures that we are delivering the communities that residents are looking for.”
With an emphasis on community, The Beacon on Westmoreland consists of seven three-story buildings and an amenity center complete with a club room, resort-style pool, deluxe grill stations, state-of-the-art fitness center, controlled and monitored access gates, 24-hour emergency maintenance, free Wi-Fi access in select areas, a dog park, a playground, a walking trail around the community courtyard, as well as expansive outdoor entertainment areas.