MADEIRA
SUITES
WACO · TX · 2025
ACQUISITION SERVICES
METRICS.
SIZE
72 UNITS
STRATEGY
OPEX & CASH FLOW
IMPACT
PORTFOLIO GROWTH
PARTNERS
THREE KROWN ADVISORY
RAISE
1031 EXCHANGE
RETURNS
16% AAR
In partnership with Devonshire Property Management, we are executing a long-term CAPEX and OPEX strategy at Madeira Apartments, focused on operational efficiency, targeted reinvestment, and sustained asset performance.
DESCRIPTION.
Black Bull founder Chris Stevenson, spearheaded the acquisition of Madeira Apartments in Waco, Texas, on behalf of a private client. Previously owned by the Romney family, this 72-unit community presented a rare opportunity to secure a stabilized, cash-flowing asset in a high-potential submarket. Waco’s expanding economy, population growth, and rental demand position it as a long-term value play, offering both dependable income and appreciation upside. The acquisition reflects our strategy of sourcing overlooked yet resilient assets in markets poised for sustained growth.