THE GATES AT PRAIRIE VIEW

To increase the value of the property, we submitted a request for a road tie-in from Highway 290. Since July, we have also been working on platting or subdividing the property which will unlock additional value. TexDOT declined our initial request for the tie-in, but we are now positioned to resubmit the permit having fulfilled TexDOT’s requests for additional information. Focusing on completing the platting, we are also confident we will be in compliance with the city’s ordinances. We have a meeting scheduled with the city council on December 7th where we will present what we are looking to do.

Asset Living began operating as our property management company in August. We determined very quickly Asset Living had not properly documented and vetted tenants. Some of which who did not qualify, and subsequently were unable to pay rent. As a result, some tenants were evicted, and ultimately we terminated our agreement with Asset Living and began self-managing The Gates at Prairie View. While we experienced some turnover, we were able to reach stabilization in November after transitioning to a new property management system.

OUR RECENT EVENT

We had a fantastic time in Dallas, Texas. A gracious BIG THANK YOU to our panel of experts from the commercial real estate industry who led an incredibly informative discussion that everyone really enjoyed. Everything was really ????? from the food, to the information, to the venue itself. We hope you don’t miss our next event. Visit www.PioneerRealtyCapital to learn more about future sponsorship information. Join us at our next Business Mixer/Networking Event with unmatched opportunities to connect with influential leaders across all segments of the real estate industry!

Our team from Pioneer Realty Capital is here to answer any questions you may have at 682-518-9416, and we hope to see all of you at the next PRC CRE Business Mixer. Call us for future sponsorship opportunities, and again — Thank You for All Who Attended!

KENNEDALE OAKS

As we gear up for development in Kennedale Texas and in the southern sector of Dallas, investors will have the opportunity to join us! The project has been approved for the townhome development in Kennedale, and we are currently assembling the investment deck. Now, not to be biased, we are most thrilled about our upcoming development in the Dallas area. We have had some positive, successful meetings with local government, state officials, and the county commissioner over that jurisdiction. The consensus is everyone is extremely receptive and in support, but we are even more excited to afford our investors an opportunity to participate. We will share details for this development soon, too, so stay alert for the next PRC Newsletter!