Company Pays $21M for Garden Style Community in an Emerging Sub-Market that has Experienced Significant Economic and Demographic Growth Over the Past Decade
HLC Equity, a national real estate investment holding group and property manager, has announced the purchase of High Meadows, a 208-unit, Class A, garden-style multifamily community located in Durant, Oklahoma.
According to HLC Equity, High Meadows is strategically positioned to benefit from the expansion of the Texas-Oklahoma growth corridor. Located in Durant, OK, which is North of Sherman, TX and classified as part of the greater Dallas-Ft Worth combined statistical area, the city is undergoing significant growth. While Durant is a relatively small town, the town is benefiting from a broader regional economic expansion that shows no signs of slowing down. The city has several key economic drivers, including being located within the vicinity of the Choctaw Nation Headquarters, the Choctaw Casino Resort, close proximity to major manufacturing plants, large-scale transportation and connectivity developments, and Southeastern Oklahoma State University.
Built in 2007 to a high-quality building standard, High Meadows is a highly amenitized building that is superior to other recently built multifamily properties in the market. In line with HLC Equity’s strategy of purchasing community-oriented properties, High Meadows features a resort-style swimming pool, a 24-hour fitness center, community clubhouse, playground and basketball court, dog parks, and large landscaped areas where people can enjoy picnics and communal activities with their friends and family.
“We are excited to expand our portfolio into this growing market. Our current operations and market knowledge in the greater DFW area allowed us to quickly identify this property and market as a promising pursuit from an investment standpoint, while also allowing us to pursue our mission of building thriving communities. This acquisition will allow us to offer high quality, community-oriented housing to this dynamic market at an attainable price point” said Daniel Farber, CEO of HLC Equity.
High Meadows will be managed by HLC Equity’s management division, in collaboration with the company’s Layers Brand, which expects to further increase value at this property by providing residents with certain unit upgrade options, integrating the company’s innovative technology stack and processes to enhance resident satisfaction, while also offering community services to benefit community residents.
HLC Equity, through its Direct-to-Consumer investment platform HLC Direct, is offering the opportunity for accredited investors to partake in this acquisition for a limited time. For further information, accredited investors may sign up for HLC Direct at https://investors.hlcequity.com/campaigns, and inquire for further details at ir@hlcequity.com
About HLC Equity (www.hlcequity.com)
HLC Equity is a 70+ year-old multigenerational company, with an expansive real estate portfolio, the entrepreneurial spirit of a startup, and institutional-level execution. HLC Equity utilizes its real estate portfolio to carry out its mission of building thriving communities. Through HLC Equity’s Layers brand, the company employs a hybrid management approach in order to deliver above-market returns. Through HLC Equity’s HLC Direct platform, the company offers accredited investors the opportunity to invest in institutional assets right alongside the company principals.
