Hamilton at Turman Farms in Horn Lake, MS (Memphis MSA)
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HAMILTON AT TURMAN FARMS
HOMESTEAD AT MORTON GROVE
Highpoint purchased Hamilton at Turman Farms on March 11, 2011. Built in 2007, Hamilton at Turman Farms is a 496-unit Class A apartment community located in Horn Lake, MS (DeSoto County), part of one of the fastest-growing counties in the United States.
A marketing and renovation program was put in place immediately after closing, focusing on new marketing sources (new web-site, featured advertisements, etc.), property amenities, sub-metering of water/sewer and unit improvements (sub-metering fully implemented by August 2012). Ownership has expanded the fitness center by 440 square feet, replaced all fitness equipment with state of the art cardio theater machines and individual weight stations, remodeled the clubhouse and renovated units to include new cabinetry, countertops and fixture. Our renovated units command a 20% + premium on costs. We recently recapitalized the property with a new 1st mortgage and the property was valued in excess of $10 million over our original 2011 purchase price.
BEFORE / AFTER KITCHEN
BEFORE / AFTER FITNESS CENTER
FITNESS CENTER (440SF ADDITION)