BlueSpruce Holdings and Yates Group USA partnered to acquire Holiday Terrace, an 83-unit complex in Branson, Missouri on May 18, 2018. We bought this asset because of its strong cash flow and outstanding property condition thanks to $2.5 million in rehab done in 2015.
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Key Deal Points
- The property is in excellent condition thanks to $2.5 million in improvements done in 2015.
- Indoor pool, clubhouse, coin laundry, exercise room, elevator, ample parking. Outdoor sun deck, picnic area, generous green spaces, mountain views.
- Highly desirable location and one-quarter mile off Branson’s famous strip.
- Branson hosts over 9 million visitors annually, which creates enormous demand for hospitality employees, and there is a shortage of both employees and available housing. Recently the city began aggressively recruiting workers from Puerto Rico.
- There is an enormous $446 million, 302 acre resort and indoor water park planned for opening in 2019. This facility is expected to create 900-1200 new jobs and is just blocks from the property.
- The sellers have owned the property for 10 years and are very happy with the cash flow, but they want to move south and retire due to health issues.