College Pointe

College Pointe was originally an old run down student property in Lubbock, Texas @ Texas Tech University, sitting right next to campus but holding only an 80% average occupancy. The asset was a three-story garden style apartment project built in the early 1970’s, acquired in 2003. The project was originally built with 90 units, 76,474 square feet, 1 pool, and an office.

As managing general partner, Hunter Interests obtained the equity and debt to acquire and remodel the asset which included the following:

The project was re-branded with the new name “College Pointe”. The property floor plans were updated and re-named with a new management team and marketing plan that increased value allowing for the property to average a 95% occupancy for nearly 5 years, increasing rents and cash flow by almost $100,000 annually. The property was sold in 2006.