A forced-sale opportunity in one of the strongest employment submarkets in the country — acquired at a discount through an institutional sponsor with a track record of flawless execution.
Pressure from equity forced the seller to close out their fund — Grand Riviera was the fund's last property. Lone Star Capital was selected as the buyer of choice because of their reputation for surety of closing, giving Seven Peak investors access to pricing not available in an open-market process.
Irving-Las Colinas sits between DFW International Airport and the Las Colinas Urban Center — home to 2,000+ corporate offices, 30+ Fortune 500 companies, and 9 Fortune 500 headquarters. DFW and American Airlines' $3B Terminal F opening creates an additional employment tailwind.
$4M CapEx budget to renovate interiors with new appliances, granite countertops, modern cabinet fronts, and backsplashes — targeting ~$155/unit rent premiums. Additional income streams from a bulk Wi-Fi package, tech package, carport installation, and full-size washer/dryers.
Lone Star Capital has acquired $600M+ in DFW and Houston multifamily since 2018, delivering 30%+ average returns. Radiance Living — LSC's wholly-owned property management affiliate — oversees day-to-day operations with in-house construction and institutional-grade reporting.
A 71% LTC capital stack with fixed-rate senior debt through Greystone. 5-year term with a 30-year amortization and a 24-month stabilization period. Targeting a 3-year hold with flexibility to extend if market conditions are unattractive at exit.
Irving is a workforce housing magnet with exceptional connectivity, a diverse corporate employer base, and projected rent growth of 2.9%+ annually over the hold period.
Grand Riviera is fully subscribed. Seven Peak Income Fund I is currently open for new capital — a Rule 506(c) private credit fund targeting 14–15% annualized returns with quarterly distributions.