F&B Capital acquired Arrangement (formerly Park View at Town Lake), a 370 unit, garden-style asset located in the Riverside/Oltorf submarket of Austin, TX. Located within 3 miles of Austin’s CBD and the gentrifying Southeast Austin submarket.
Arrangement had millions of dollars in deferred capex and was being mismanaged. It historically catered to a very low-end demographic. The business plan was to cure all deferred capex, including, in particular roof replacement and major plumbing repairs, renovate unit interiors and begin leasing to a higher-end demographic who would pay a premium for the location.