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Since 1967, the principals of Alpha-Barnes through various entities have developed over 65 multi-family communities consisting of approximately 20,000 units. Alpha-Barnes currently owns or manages or asset manages approximately 85 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.
| 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 | |
| Type of Financing: | Conventional | |
| Total Financing: | $13,500,000 | |
| 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 I | ||
| Location: | 9001 Markville Road | |
| Dallas, County. Dallas, Texas |
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| 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 |
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| 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 | |
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Roanoke, Texas |
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| 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 |
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| 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 |
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| 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. | |
| 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 | |
| ABRES Involvement | We are the managing general partner of the limited partner that owns 51% of the partnership. Banc One Community Development Corporation and USAA Federal Savings Bank owns 24% each. We are the asset manager of the property. |
|
| Hubbard's Ridge Apartments | ||
| Location: | 4401 Point Blvd. | |
|
Garland, Texas |
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| Number of Units: | 196 | |
| Year Built: | 1990 | |
| Type of Financing: | Conventional with Fannie Mae | |
| Operated Under: | Section 42 | |
| ABRES Involvement | We are the co-general partners with current and former principals of Related Capital Corporation. We originally developed and leased up this community. | |
| Newport Landing Apartments | ||
| Location: | 10850 Kingsley Road | |
|
Dallas, Texas |
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| Number of Units: | 185 | |
| Year Built: | 1996 | |
| Type of Financing: | Conventional 1st Lien with MBS Conduit Loan | |
| Operated Under: | AHDP through the Resolution Trust Corporation | |
| ABRES Involvement | We are partners of the partnership. We purchased the property originally with private and institutional equity. In March 2004, 49% of the partnership interest was sold to an individual out of Seattle, Washington who currently manages the property. We do not operate this property. |
|
| Parkwood Place Apartments | ||
| Location: | 3200 Parkwood Blvd. | |
|
Plano, Texas |
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| Number of Units: | 194 | |
| Year Built: | 1992 | |
| Type of Financing: | Conventional Fannie Mae | |
| Operated Under: | Section 42 | |
| ABRES Involvement | We were the co-general partners with an out of state investment group. We were the developer for this new construction tax credit development. We leased-up and managed until the property was sold in 1994. | |
| Stone Brook Village Apartments | ||
| Location: | 7500 Rollingbrook Drive | |
|
Frisco, Texas |
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| Number of Units: | 216 | |
| Year Built: | 1994 | |
| Type of Financing: | HUD loan - 221(d)3 | |
| Operated Under: | Section 42, non-profit general partner | |
| ABRES Involvement | We are the managing general partner of the limited partner that owns 99% of the partnership. We also were the original Contractor and Property Manager. | |
| Trinity Work Community Living Center - Wales (formerly Prince of Wales) |
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| Location: | 134 Oak Lawn | |
|
Dallas, Texas |
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| 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. | |
| ABRES Involvement | We assisted in the financing and closing of the transaction mainly in our role as the managing general partner of the limited partner that owns 74% of the partnership. We are the asset manager for the property and we assist in the relationship and payment from the Dallas Housing Authority on the Housing Assistance Program contract. | |
| The Windsor Hotel | ||
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| Location: | 401 Pine Street | |
|
Abilene, Texas |
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| 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. | |
| ABRES Involvement | We assisted in the financing and closing of the transaction mainly in our role as the managing general partner of the limited partner that owns 99% of the partnership. We are the asset manager for the property. We are currently the property manager for the community. | |
| Cedar Ridge Apartments | ||
| Location: | 7905 Marvin D. Love Freeway | |
|
Dallas, Texas |
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| Number of Units: | 192 | |
| Year Built: | 1994 | |
| Type of Financing: | Conventional 1st Lien | |
| Operated Under: | Section 42 | |
| ABRES Involvement | We assisted in the financing and closing of the transaction mainly in our role as the managing general partner of the limited partner that owns 99% of the partnership. We are the asset manager for the property. | |