Property Acquisition Entices Renters with Renovated Interiors in a Booming Houston Neighborhood
Houston, TX, Quattro Capital announced its investment in The Émile Apartments, effective December 27, 2022. This latest acquisition is part of Quattro’s continuing approach to locating high-quality assets in core markets.
Built in 1999, The Émile Apartments consist of 240 units. It is in the coveted Champions Area submarket of Houston. Like other properties in the country, The Émile is a perfect property to benefit from additional interior and exterior improvements that will make the complex a Class A property.
“Considering the direction of our country’s economy, our approach is to locate high-quality assets in core markets,” said Tammy Sutton, Quattro’s Transitions & Operations partner. “We’ve been monitoring Texas markets, including the robust market in Houston, for some time.”
Champions, an affluent area with an average income of $88,000 within a 3-mile radius, is located northwest of downtown Houston. Checking off several of Quattro’s requirements for property investments in operational excellence, high-quality development, and growing in-demand locations. As Sutton explains, “After reviewing many properties, The Émile emerged as a top candidate.”
Quattro’s business plan includes renovating both the exterior and interior of the units to bring the rents to market. The proposed upgrades include high-quality flooring, cabinets, and countertops to take advantage of Houston’s thriving local economy, job market, and rising rental demand. The interior work will cost $3.95 million, while the exterior will require $1.25 million, totaling a CapEx budget of $5.2 million.
“Once we stabilize the property, the value created from the renovations will drive up to $1.3 million in additional NOI,” Sutton added. “From our previous experience, we have developed a deep understanding and appreciation of what the public expects from a booming property market. We have rooted our current success in acquisitions and investments in our ability to locate and transition multi-family properties from Class B upper workforce housing into a product that compares to the luxury of a new build with a lower price point.”
“The Émile Apartments have a wealth of growth and opportunities to offer the Champions community looking for a standard of unparalleled excellence and a quality lifestyle. We are excited to apply our high-standard principles and core mission to this exciting partnership,” Sutton concluded.
This latest acquisition for Quattro Capital underscores the firm’s ongoing commitment to multifamily property investments. With a keen focus on both multifamily and commercial real estate, Quattro’s experienced team consistently identifies and capitalizes on emerging markets throughout the US, securing deals that align with their strategic vision.
Quattro aims to continue acquisitions of this type by establishing its own investment fund in collaboration with Angel Investors Network to grow its portfolio and provide access to more investors.
“We are very excited to have Quattro Capital as a partner to help them expand their portfolio and grow their new fund,” stated Angel Investors Network CEO Jeff Barnes.
“This is a great fit for our network of investors, as they are constantly looking for opportunities to enhance their portfolios and returns, and multifamily investments are a solid asset class our investors seek.”
–Jeff Barnes, Angel Investors Network CEO
For investment inquiries regarding Quattro Capital, please email Angel Investors Network at info@angelnetwork.com or visit https://angelinvestorsnetwork.com. For The Émile Apartments, visit them online at https://www.liveattheemile.com/contact_us.
ABOUT
Quattro Capital focuses on multi-family real estate investments with a compassionate approach to both the investors and communities involved. Their core investment mission is to locate underperforming properties in emerging areas that will yield reliable returns throughout the life of the investment. Quattro Capital is based in New York City.
The Émile Apartments are a Class B property built in 1999. It offers spacious apartments with growing community inspired amenities that feature a fitness center, resort-style swimming pool, clubhouse, and more. It is located in the Houston suburb of Champions.
Angel Investors Network (AIN) brings investment opportunities and wealth-building strategies to its network of investor members. AIN provides a platform for investors to seek out and find new investment opportunities across several asset classes, including private equity, real estate, and publicly traded markets.
The Quattro Capital team brings a wealth of experience, with over 20 years in real estate and over 95 years of professional experience across various industries.
Quattro Capital is an investment firm focused on residential multifamily real estate, such as apartment complexes and mobile home parks, that yields strong returns for investors.
