Multi Familiy Development
Since 1967, the principals of Alpha-Barnes through various entities have developed over 75 multi-family communities consisting of approximately 22,000 units. Alpha-Barnes currently owns and/or manages, or asset manages approximately 90 communities with over 12,000 unit count.
Our focus is on development, construction, property management and financial modeling expertise in acquiring and adding value to select multi-family properties, new and existing, primarily in the Texas markets. In accomplishing this mission, we have three primary goals:
- Deliver consistent superior return to our investors
- Improve the resident's experience in our communities, acquired or managed
- Build upon our Circle of Success by treating all parties instrumental to our success - our partners, our employees, our service providers and our affiliates - as we would like to be treated with respect, honesty and loyalty.
New Construction Properties Developed By Alpha-Barnes
| Trinity Lofts | ||
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| Location: | 1403 Slocum | |
| Dallas, Texas | ||
| Number of Units: | 92 plus 28,000 sq. ft. of showroom/office. | |
| Year Rehabbed: | 2005 | |
| Website: | www.trinitylofts.com | |
| St. Andrews, Phase I | ||
| Location: | 9001 Markville Road | |
| Dallas, County. Dallas, Texas | ||
| Number of Units: | 324 | |
| Year Built: | 1996 | |
| Type of Financing: | Conventional | |
| Total Financing: | $20,000,000 | |
| ABRES Involvement: | Development, manage, finance, administer construction and lease-up. Stephen Barnes is a partner with Jim Lake, Jr., and Mike Morgan is co-general partner on this development | |
| St. Andrews Phase II | ||
| Location: | 9000 Vantage Point | |
| Dallas County. Dallas, Texas | ||
| Number of Units: | 312 | |
| Year Built: | 1998 | |
| Type of Financing: | Conventional | |
| Total Financing: | Section 42, General Partner is the San Antonio Housing Authority. | |
| ABRES Involvement: | Developed land, designed, financed, administered construction, completed lease-up, and managed property until sale to a Pension Fund in 1999. | |
| Boulder Ridge Apartments | ||
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| Location: | 1515 Cannon Parkway | |
| Roanoke, Texas | ||
| Number of Units: | 478 | |
| Year Built: | 1999 | |
| Type of Financing: | Conventional | |
| Total Financing: | $33,000,000 | |
| ABRES Involvement: | Purchased land, designed, financed, developed, administered construction, lease-up, until sale in 2005. | |
| The Grand Courtyards Apartments | ||
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| Location: | 525 Westchester Blvd. | |
| Grand Prairie, Texas | ||
| Number of Units: | 390 | |
| Year Built: | 1999 | |
| Type of Financing: | Conventional with institutional equity | |
| Total Financing: | $23,500,000 | |
| ABRES Involvement: | Purchased land, designed, financed, developed, administered construction, lease-up, until sale in 2006. | |
| Equinox Apartments | ||
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| Location: | 6200 N. Shiloh Blvd. | |
| Garland, Texas | ||
| Number of Units: | 338 | |
| Year Built: | 2000 | |
| Type of Financing: | Conventional with institutional equity | |
| Total Financing: | $23,000,000 | |
| ABRES Involvement: | Purchased land, designed, financed, developed, administered construction, lease-up, and managed until sale in December of 2003. | |
Existing Properties Financed or Developed By
Alpha-Barnes
| Homestead Apartments | ||
| Location: | San Antonio, Texas | |
| Number of Units: | 158 | |
| Year Built: | 1994 | |
| Type of Financing: | San Antonio housing Authority First Lien, Home Funds from the State of Texas and a CBDG loan from the City of San Antonio | |
| Hubbard's Ridge Apartments | ||
| Location: | 4401 Point Blvd. | |
| >Garland, Texas | ||
| Number of Units: | 196 | |
| Year Built: | 1990 | |
| Type of Financing: | Conventional with Fannie Mae | |
| Operated Under: | Section 42 | |
| Parkwood Place Apartments | ||
| Location: | 3200 Parkwood Blvd. | |
| Plano, Texas | ||
| Number of Units: | 194 | |
| Year Built: | 1992 | |
| Type of Financing: | Conventional Fannie Mae | |
| Operated Under: | Section 42 | |
| Stone Brook Village Apartments | ||
| Location: | 7500 Rollingbrook Drive | |
| Frisco, Texas | ||
| Number of Units: | 216 | |
| Year Built: | 1994 | |
| Type of Financing: | HUD loan - 221(d)3 | |
| Operated Under: | Section 42, non-profit general partner | |
| Prince of Wales | ||
| Location: | 134 Oak Lawn | |
| Dallas, Texas | ||
| Number of Units: | 61 | |
| Year Built: | 1918 | |
| Year Rehabbed: | 1993 | |
| Type of Financing: | Non-recourse bank loans that have subsequently been paid off, community block development grant loans from the City of Dallas | |
| Use: | Transitional Housing for the Homeless | |
| Operated Under: | Section 42, Dallas Housing Authority Housing Assistance Program contract. | |
| The Windsor Hotel | ||
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| Location: | 401 Pine Street | |
| Abilene, Texas | ||
| Number of Units: | 80 | |
| Year Built: | 1921 | |
| Year Rehabbed: | 1995 | |
| Type of Financing: | Bank loan, Community Block Development Grant | |
| Use: | Senior Citizen Residence | |
| Operated Under: | Section 42, Historical Tax Credits, age restricted as independent elderly housing. | |
| Cedar Ridge Apartments | ||
| Location: | 7905 Marvin D. Love Freeway | |
| Dallas, Texas | ||
| Number of Units: | 192 | |
| Year Built: | 1994 | |
| Type of Financing: | Conventional 1st Lien | |
| Operated Under: | Section 42 | |
BRAMA
BRAMA Ventures is the acquisition affiliate of Alpha-Barnes Real Estate (ABRES). Through BRAMA, ABRES seeks to utilize its considerable construction, "value engineering", property management and financial modeling expertise in acquitting and adding value to select multifamily assets throughout
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BRAMA Ventures most recent acquisitions
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Oak Hills Apartments 244 Units West Pointe Pines Apartment 263 Units 436 Units Contact for BRAMA Information Jeff Barnes
