Sunday, May 01, 2016

MBP Capital Snaps Up Another Class-B Property

MBP Capital Snaps Up Another Class-B Property 
MBP Capital snapped up Frances Way Villas in Richardson. The Class-B 200-unit garden style property is a value-add property, director of brokerage and acquisitions Ryan Heddleston tells us. The company (co-founded by Mike Phillips and Cathy Finn) plans to pour up to $2.7M into renovations. Because it is workforce housing designed for families, MBP Capital will add family-oriented amenities such as a splash pad, volleyball court and fitness center. MBP Capital will also rebrand the community as The Beverly.

Link to full article

By Catherine Meredith of the Bisnow Commercial Real Estate News