LOCATION
Burleson, TX (approx. 20 min south of DFW)
SITE COUNT
141 lots
ACQUIRED
2026
CAPITAL STRUCTURE
Seller-financed, full-term interest-only
Performance Highlights
Exceeding underwriting expectations through operational excellence.
82% → 87%
OCCUPANCY IN MONTH 1
Trending toward 90%-plus
50%+
PAYROLL REDUCTION
Hybrid call-center model in 90 days
+$4K/mo
NOI LIFT FROM MERCHANT PASS-THROUGH
Implemented at takeover
DEAL STRUCTURE
Seller financing with a five-year interest-only period to amplify cash flow.
Coltcam structured the acquisition as seller-financed with a full-term interest-only period. The interest-only structure preserves cash flow across the entire hold, freeing capital for value-add execution from day one.
The Acquisition
Acquired from a long-time local operator with a limited digital presence and no professional marketing infrastructure. The property sits in Burleson, roughly 20 minutes south of the DFW Metroplex, in a corridor with steady workforce demand. The capital structure is seller-financed with a full-term interest-only period, which preserves cash flow across the entire hold, freeing capital for value-add execution from day one. Occupancy was running at approximately 82% at takeover, with rents and ancillary income meaningfully below what the asset could support under modern management.
The Work
Coltcam moved fast in the first 90 days. The property was placed on the same in-house management stack used across the rest of the portfolio. A hybrid operating model went live: a centralized call center handles intake across multiple Coltcam properties while an on-site host manages the customer experience. Payroll dropped by more than 50% versus prior ownership. Integrated merchant services were rolled out with credit card processing fees passed through to tenants, lifting NOI by approximately $4,000 per month. A new website and digital marketing program (PPC, SEO) launched alongside the operational changes. The primary value-add thesis is lot enclosure and rent repositioning. By fencing individual lots, Coltcam creates a meaningfully differentiated product that supports a $150 per site rent increase. Execution is underway.
The Outcome
Within the first month of operations, occupancy moved from approximately 82% to 87% and is trending toward 90% plus. The asset is distributing 6.67% cash-on-cash from day one, which is rare for a property still in the early stabilization phase and reflects both the seller-financed capital structure and the immediate NOI lift from the operational changes. The hybrid management model and merchant services pass-through together drove early NOI expansion without waiting on occupancy growth alone.
INVESTOR SNAPSHOT
DAY ONE CASH-ON-CASH
6.67%
CAPITAL STRUCTURE
Seller Financed
INITIAL IO PERIOD
Full Term
PHASE
Early Stabilization
WHAT'S NEXT
On the horizon
Two value-add initiatives are in motion. Common area renovations are underway to improve property appeal and support continued rent growth. A program to roll out 40 to 50 fenced sites is in progress, targeting a roughly $150 per month rent premium against standard sites. Both initiatives are expected to widen the gap between the underwriting and actual performance through the next two quarters. Mockingbird Hill is a candidate for opportunistic sale once market conditions reach an optimal interest rate environment.
PARTNER WITH COLTCAM
Invest in our next acquisition
Coltcam Capital is actively identifying and underwriting new off-market opportunities across the Texas Triangle. Gain exposure to institutional-grade returns in a recession-resistant asset class.
