40-Unit Apartment Project + Land

Property Management, Leasing, Forensic Accounting

Texas Apartment Building

The Bottom Line:

The owner of a 40-unit, class C, apartment building in Copperas, TX and land in Temple, TX had defaulted on its secured loan by mismanaging the properties. The apartment building had become severely dilapidated with environmental problems and squatting tenants.

Actions:

As Receiver, Stapleton is evicting certain tenants, eradicating pests throughout the apartment complex, launching an aggressive leasing campaign, conducting a forensic review of cash activity, and searching for other assets for the estate.

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