Colony Park Apartments – 100 units – Longview, TX
Colony Park is a 100-unit property located in Longview, TX. It was purchased in April 2015 for $2.775MM, and was a poorly maintained C- class property. The grounds and all exteriors enjoyed renovation during year one, while the interiors continued to be improved as units become available. The property was re-branded and given a new name and image, and now shows like a C++ property.
DeDee was the sole sponsor on the $2.8MM Freddie Mac agency loan and Freddie required her to remain in place as asset manager due to the exceptional property performance. This property sold for 7.4MM in late 2021.