Sold Portfolio
'Bullard' – Finley & Parker Apartments
In Q4 2018, SPI Advisory and a partner executed a 506(b) syndication to acquire two properties off Old Bullard Road in Tyler, TX: the Finley Apartments and Parker Apartments. Parker Apartments (formerly "Bullard Crossing Apartments") was acquired first in November of 2018. Finley Apartments (formerly "Bullard Creek Apartments") was successfully acquired shortly after, in February 2019. The sale of the Parker Apartments in April of 2024, concluded the portfolio's life-cycle. During the nearly six-year-long period of ownership, SPI and its partner implemented an exhaustive list of renovations, significantly enhancing both the property's appeal and marketability.
Project-level Returns:
Equity Multiple:
2.59 X
IRR:
29%
About Finley Apartments
On September 15th, 2022, after a 3.5-year hold period, SPI Advisory, LLC and its partners disposed of the Finley Apartments, a B-class, 200-unit apartment complex built in 1977 and located at 5621 Old Bullard Road, Tyler, TX 75703. The property offered residents proximity to the University of Texas at Tyler and East Texas Medical Center.
Year Built
1977
Units
200
Property Class
B
Hold Period
42 mos.
Year Built
1977
Units
200
Property Class
B
Hold Period
42 mos.
