Aura 3Fifty-One

Aura 3Fifty-One

View Offering Memorandum and Financials

Offering Summary:

  • Location: Grand Prairie, TX
  • Year Built: 2019
  • Units: 351

Investment Highlights:

  • Class A+ New Construction: 351 one-, two-, and three-bedroom units with designer finishes and superb amenities, such as nine-foot ceilings, granite countertops, stainless-steel appliances, resort-style lazy river pool, stand-alone fitness center with spin room, and private yards.
  • Superior Leasing Velocity: Aura 3Fifty-One has averaged 22 move-ins per month over the past six months while offering minimal concessions. The submarket is projected to see only one other asset leasing up through 2021.
  • Situated in Highly Acclaimed Mansfield ISD: Aura 3Fifty-One feeds into Mansfield ISD, which is ranked in the top four percent of districts in the United States.
  • Central DFW Location: The asset’s central location in Grand Prairie offers a quick commute to major employers nearby including General Motors, Lockheed Martin, DR Horton, Bell Helicopter-Textron, DFW Airport, and American Airlines.
  • Historically Strong Submarket: Grand Prairie and Mansfield experienced exceptional rent growth and occupancy trends in 2019.  Grand Prairie realized 3.3 percent average rent growth and 95.5 percent average occupancy, while Mansfield came in at 4.3 percent average rent growth and 95.8 percent average occupancy.

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