Praxis Capital Aggressively Exceeds Projections for Elm Grove Partnership

SANTA ROSA, Calif., April 3, 2012 /PRNewswire/ -- Santa Rosa, California based Praxis Capital LLC, a real estate private equity firm, is very pleased to announce milestones exceeded with Elm Grove Apartment Complex Partnership in Kingwood, Texas. Elm Grove, a 136 unit complex in the master planned community of Kingwood, was acquired in May 2011 after extensive analysis and due diligence of the multi-family market potential. 

The Kingwood submarket, a class A suburb of Houston, was recently ranked number 1 in the Houston area in terms of rent growth by REIS, Inc. The Houston MSA population is estimated to increase by 2.66 million residents by 2030.  This would result in one of the largest population growths in the country. Rent growth in the Houston market is accelerating with rent projected to grow by 5% in 2012.

Managing Director, Chris Peterson confirms that "the strong job growth in the Houston metro area makes for great real estate investment."  Praxis is now reaching occupancy rates that were projected over the next five years. Occupancy has risen to over 92% in less than one year's tenure of new ownership and currently boasts no vacant units. During the past six months Praxis has completed major interior upgrades and exterior renovation to create a highly desirable residential environment. This has been evidenced in our accelerated rental activity and income success. 

The Houston area is experiencing tremendous job growth and we see the stable Texas economy as very favorable to multifamily property investment. The demographics and logistics represent a substantial opportunity. "We foresee this as a very desirable property for our residents and for our investors."

Praxis Capital, LLC is a real estate private equity investment firm created to provide high rates of return to our investors while tactically managing risk. Praxis capitalizes on a variety of market cycles to acquire the right assets, in the right markets, at the right time.

To learn more about this investment, accredited investors or advisors may contact Sherri Haskell at [email protected] or (707) 703-4500 or Cell (415) 722 4849.

Sherri Haskell, Investor Relations Director
Praxis Capital, LLC
3333 Mendocino Avenue, suite 110
Santa Rosa CA  95403
www.praxcap.com

SOURCE Praxis Capital LLC