National Asset Services has successfully delivered a buyer for Cooper Glen Apartments in Denton, TX on behalf of property investors in the 202,276 square foot, 240-unit complex.
The sale resulted in a return of over 225% of the initial investment for property ownership. The NAS team leveraged its vast resources while working in tandem with Accolade Property Management to achieve year over year NOI growth with little delinquency. An above-market-occupancy-rate of over 90%, was also maintained, despite the tragic impact of COVID-19 on the marketplace.
In Spring 2018, The NAS executive team began working with Accolade Property Management to execute an aggressive, multi-faceted, marketing and operations strategy to squarely prepare the asset for sale.
“Our ability to create a strategic plan for each asset increases and enhances its market position. These strategies made the possibility of finding a buyer for this asset, in a year of unprecedented uncertainty caused by the pandemic, a reality,” commented Karen E. Kennedy, President and Founder of National Asset Services and NAS Investment Solutions. “The end result was an excellent return for our clients invested in Cooper Glen Apartments.”
Build in 1996, Cooper Glen Apartments is an apartment community located near the University of North Texas and Texas Women’s University. The property offers spacious one, two, and three-bedroom garden style apartment homes with many interior conveniences such as washer / dryer connections, designer accent walls and amenities such as gated entry, fitness center and a swimming pool.