Adams LaSalle Multi-Family Fund

Property Type: Multifamily

First Capital Advisors was an investor in Adams LaSalle Multi-Family Fund (A), LLC. In the portfolio were four unique apartment complexes, pictured above and detailed below.

• Stone Mist Apartments is a 192-unit complex located in Houston, TX. Built in 1999, this Class A garden-style complex consists of 12 two and three-story buildings. Amenities at the property include a pool, fitness center, picnic area, business center, valet trash service and a pet park.
• Legacy Park Apartments is a 304-unit apartment complex located in Houston, TX. Built in 1995, this Class A garden-style complex consists of 14 two-story buildings. Amenities at the property include a pool, fitness center, picnic area, entry gates, sand volleyball courts and others.
• Three Fountains Apartments is a 272-unit apartment complex located in San Antonio, TX. Built in 1998, the Class A garden-style complex consists of 19 two-story buildings. Amenities at the property include a pool, fitness center, picnic area, business center, access gates, a playground, car care center, 12 detached garages, 32 attached direct access garages, laundry facility and a central trash compactor.
• Wynnewood at Wortham Apartments is a 444-unit complex located in Houston, TX. Built in 1998, this Class A garden-style complex consists of 16 three-story buildings. Amenities at the property include two pools, one jacuzzi, a clubhouse, fitness center, business center, movie theater, picnic area, playground, car care center, tennis courts and sand volleyball court.

Implementing a value-add strategy, capital improvements were made at each of the properties resulting in increased property value and a substantial profit for the fund’s investors.  All of the fund’s assets were sold during or prior to 2019.