Alden Landing

The Woodlands, Texas

Active Investment
 
Units: 292
NRSF: 252,424
Acquisition Date: 9/15/2014
Status: Active

Alden Landing is a 3-story garden style complex with surface parking situated on a 13.08 acre site.  The property is located in the highly desirable master planned community, The Woodlands.  The Woodlands Hike and Bike Trail surrounds the property and The Woodlands Town Square is located within close proximity.  The property contains a mix of one, two, and three-bedroom apartments with an average unit size of 864 square feet.  Alden Landing is zoned to highly regarded schools, including College Park High School.

Opportunity

  • Opportunity to acquire a well located Class A- asset in a master-planned community with significant barriers to entry.
  • The property includes architectural features reminiscent of recently constructed apartment communities.
  • The Woodlands is experiencing a surge in population growth and office development anchored by the 3.3M SF Exxon headquarters development.
  • Leverage ownership’s previous direct experience owning The Woodlands Operating and Development Company.

Value Enhancement Strategy

  • Capitalize on the robust demand for apartments by increasing rental rates upon renewal by current residents.
  • Implement focused capital program to address deferred maintenance, enhance existing amenity spaces and upgrade unit interiors to a quality similar to new construction.
  • Increase rental rates for upgraded units by delivering superior unit interior finishes compared to our competitors at a price point below new construction.
  • Well-capitalized ownership is positioned to provide exceptional responsiveness to market conditions.