Highpoint Creek

    Acquisition Price

    $16,560,000

    Acquisition Date

    09/2023

    Disposition Price

    Currently held

Property Specs

Greenlite identified Highpoint Creek as a classic repositioning opportunity, with a solid location and immediate potential for value creation.

252

Garden-Style Units

1971

Built In

$300

estimated per unit rent increase upon completion

Property Enhancements

The renovation elevated the resident experience while enabling significant rental uplift. Improvements included a full overhaul of the pool and clubhouse, smart home upgrades, and updated interiors with new appliances, lighting, flooring, plumbing, and windows—all designed to increase appeal, improve efficiency, and support rent growth.

Additional Project Background

Underwriting the Opportunity

The property’s underperformance was due to aging interiors and deferred maintenance, not location. Greenlite identified clear upside by benchmarking against newly renovated comps.

Repositioning Process

A comprehensive capital improvement plan was paired with experienced on-site management and an updated brand strategy to reposition the asset quickly within its submarket.

Repositioning Results

Targeted rent increases of ~$300/unit are expected post-renovation, with a strategic exit planned after a two-year hold to realize full value.

More On Our Investment Strategy

We take a defined strategic approach to each investment, focused on adding value in the right ways, in the right places at the right times.

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