Perry Portfolio & Tres Management Company
2406 Rock Mound Road Hope, AR
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Investment summary
Total units770
Total number of properties17
TypeGP interest LIHTC
Avg. year built2017
Avg. current occupancy97%
Executive summary
The Perry Portfolio consists of 17 properties totaling 770 units situated in Arkansas and Louisiana, all but one operating under the Section 42 LIHTC program. Among these, three properties are 100% owned by the General Partner with one subject to HOME fund restrictions, and the remaining 14 will be General Partner interest purchases. The majority of these properties have been constructed within the past five years, boasting stabilized operations and consistently high occupancy. Featuring a wide range of garden-style apartments, single-family homes, and duplexes, the properties offer generous square footage, providing residents with ample living space. Many communities feature generous amenities such as laundry facilities, resident fitness centers, community centers with planned activities, business centers, and close proximity to shopping, dining, & entertainment.
Bang Realty-Arkansas Inc | License No. PB00082359
Bang Realty, Inc | License No. BROK.0995684990-ASA
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Investment highlights
Immediate scale
This portfolio took the Developer more than 15 years to accumulate and, in an instant, allows a new owner to add significant scale in the region. The close proximity of the properties allows a new owner to continue capitalizing on the operating efficiencies to maintain strong cash flow.
Pipeline of tax credit resyndications
The portfolio provides a new owner the ability to resyndicate 2 properties immediately, with a continuous pipeline of new deals to resyndicate every year moving forward. Resyndicating the portfolio will generate millions in developer fees and construction fees creating a significant revenue stream.
Favorable cash flow splits
The portfolio averages 97% occupancy which helps sustain strong cash flow. The GP is allocated 90% of cash flow for most properties so a new owner is receiving a favorable portion of cash flow.
Deferred developer fee
The portfolio has more than $2M in deferred developer fees that a new owner would receive priority distributions on from property cash flow.
Property management company
In addition to buying the GP interest, the new owner can acquire a property management company that oversees 45 properties and generates more than $1 million in annual revenue.
Exclusively listed by
Michael Furrow
SVP, Investment Sales