Wind Tree

Windtree, a 276 unit garden style apartment project built in 2 phases, was acquired in 2004. The property is located in Amarillo, Texas near the Amarillo’s Westgate Mall, its regional hospital and the growing west Amarillo area. The project was originally built in the early 1980’s in 2 phases with 222,632 square feet, 2 pools, an office and 2 clubhouses.

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

The new business & fitness center and new office had a new “mountain” theme and all floor plans were re-branded with Colorado names. The property interior units were updated and a new management team and marketing plan put into place. This allowed for gradual rental increases that increased value allowing for the property to average a 96% occupancy for 4 years with cash flow increasing by over $250,000 annually. The property was sold to a German equity fund in 2007.