Avondale Parc, a 438-unit class-B apartment community located in Dallas just north of SMU, was acquired in February 2011. Renovations addressed deferred maintenance, upgraded interiors and improved Avondale Parc’s identity and visibility. Staffing and marketing were also enhanced. In response, occupancy improved from 80% to 96%, NOI increased over 50%. This asset was sold in December 2012.