McDowell Properties has completed the acquisition of Los Prados, a 242 unit apartment property located in Pittsburg, CA. McDowell Properties is excited about the long-term economic prospects of the East Bay market and believes this property is well positioned in the market. Furthermore, McDowell Properties is planning on spending additional capital to improve the property’s curb appeal and renovate the interiors to further increase value.
McDowell Properties is a leading real estate investment company that focuses on the acquisition, management and repositioning of multifamily properties in growth markets throughout the United States. The current portfolio consists of over 17,000 apartment units. The company is based in Dallas and has regional offices in New York, Miami, Raleigh and San Francisco. The senior management team has owned and managed in excess of $7.5BN of real estate in 40 of the top 50 MSAs, with a particular focus on multifamily. McDowell is actively making investments with discretionary capital as well as through joint ventures with institutional investors.