Forrest Jinks Of Altus Equity Group And Paul Moore Of Wellings Capital Acquire Multifamily Portfolio In Odessa

The transaction involves a multifamily portfolio consisting of 1,225 units located in Odessa, Texas. The portfolio comprises six properties and is currently 92% occupied, offering assumable loans and a projected year-one yield of over 10%. Furthermore, there is no new competing construction in the area, positioning the assets for potential long-term returns.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not disclosed
• Units: 1,225
• Market: Odessa
• Buyers: Forrest Jinks - Altus Equity Group Inc.; Paul Moore - Wellings Capital
• Brokers: Drew Garza - Institutional Property Advisors
• Mortgage Broker: Rocco Mandala - CBRE

This acquisition highlights the partnership between Altus Equity Group and Wellings Capital as they expand their investments in high-growth Texas markets. The strong occupancy and favorable loan structures indicate a strategic move towards generating reliable returns for the investors involved.