Disrupt Equity has acquired Rayfords Edge, a 376 Unit Apartment Complex purchased by Disrupt Equity for $37,477,415. This closing marks Disrupt Equity’s second and final asset to close in its latest Lone Star Portfolio opportunity.
Rayfords Edge is located at 25650 I-45, Spring,TX 77386 in the Woodlands submarket, one of the most prosperous submarkets in Houston, TX. The Property sits adjacent to I-45, conveniently connecting residents to all of Houston’s major employment centers. Rayfords Edge Residents are surrounded by thousands of high-paying jobs coupled with premier shopping, retail, grocery, and recreational options. In addition, the Property boasts strong surrounding demographics with an average household income of $122K+ within a 3-mile radius.
Rayfords Edge has been resilient, with occupancy remaining steady over the past 24 months alongside exceptional rent growth exceeding 20%+ over the past 12 months. Additionally, there is only 1 deal under construction in the submarket, suggesting continued strong rent and occupancy fundamentals for existing properties such as Rayfords Edge.
The property consists of 376 one and two-bedroom apartment units and various amenities, including two swimming pools, an outdoor kitchen, a resident clubhouse, a business center, a fitness center, and a playground & bark park. The property holds a strong value add opportunity for Disrupt Equity to renovate classic units (161), finish upgrading partially renovated units (112) to a premium level, and upgrade strategic amenities throughout the property, improving the rental value of units.
The Property will be managed by Disrupt Management, Disrupt Equity’s in-house multifamily property management firm that currently manages over 4.000+ units in Texas.
The Disrupt Equity team looks forward to executing their business plan and making Rayfords Edge a successful investment for their investors.