DENTON, Texas, July 21, 2016 /PRNewswire/ -- National Asset Services (NAS), one of the Country's leading commercial real estate companies, has successfully delivered a cumulative return on investment of over 109% to the tenant-in-common co-owners (TICs) of Gateway at Denton, a student housing property serving students enrolled at the University of North Texas.
NAS spearheaded an effective exit strategy on behalf of a twenty-six member TIC group, resulting in a 48% return from a recent divestiture of the property. Since taking over asset management of Gateway at Denton in 2010, cash distributions to investors averaged in excess of 5%, resulting in a cumulative return-on-Investment, during the hold period, of over 109%.
Despite an influx of over 4,000 additional beds into the marketplace during the investment's hold period, the NAS team supervised efforts to maintain an overall occupancy of over 90%. Achievement of optimal performance was accomplished with aggressive marketing, leasing, superior maintenance and cost-efficient property upgrades. Significant property improvements included painting the property's exterior and upgrades to the fitness center, swimming pools and plank flooring in select rooms.
'We are delighted to have delivered maximum value for our clients at Gateway at Denton," commented Karen E. Kennedy, President and Founder of National Asset Services. "The success we have experienced on behalf of the investors in this student housing property underscores our breadth of experience with a proven ability to deliver positive results for investors in any class of commercial property."
"The return on our investment would not have been possible without the proactive and transparent management style of National Asset Services," commented Jim Kirby, Gateway at Denton Investor. "Despite additional competition that developed in the Denton market, the NAS team identified various opportunities and developed a strategic plan that was successful in enhancing our investment."
Gateway at Denton is located about a half mile east of the campus of University of North Texas, which has an enrollment of over 36,000 students. Situated on 14.7 acres, the 228-unit, 696-bed Class A, garden-style student living apartment community consists of 10 three-story wood frame residential buildings and a single-story central clubhouse and leasing building. The residential buildings contain 251,208 sf of net rentable area, which equates to an average unit size of 1,102 sf. The property features such amenities as three resort -style swimming pools, a lighted basketball court and a tanning bed.
About National Asset Services (NAS)
NAS is a commercial real estate management that works with over 90 investment groups in properties of a nationwide portfolio valued at over $2 billion. The company manages a wide range of diverse commercial real estate: Office, medical office, multifamily, retail, student housing, assisted living and industrial flex properties. The company manages solely owned and multi-owner properties. NAS offers a wide-range of asset management capabilities. They include: Real estate strategy analysis; long-range business objectives; monitoring changing market conditions; investor relations; real estate and investor accounting; loan modification and workout solutions; exit and hold strategies; leasing & marketing; tenant retention plans; research studies; site selections; feasibility studies; insurance risk management; capital improvement planning and tracking; property tax appeal services and cost segregation services.
The NAS team is proud to recognize law enforcement professionals in Denton and everywhere, for their steadfast service and unwavering dedication to public safety.
For more information about NAS, visit www.nasassets.com. For industry news and company updates, follow NAS on Twitter @nascommercial.