Offering Memorandum
Multiple Multifamily Portfolio Opportunities­—Waco MSA
Flexible Acquisition Options Across Three Residential Portfolios
Acquire One or Scale with All Three
A three-portfolio multifamily offering with duplex, quadplex, and apartment opportunities across the Waco metropolitan area — structured to allow investors to acquire a single portfolio or scale to a 52-unit platform.
3 Distinct Portfolios
Up to 7 Potential Acquisition Structures
Duplexes | Quadplexes | Apartments | 52 Total Units
Request Financial Materials
M&D CRE
Executive Summary
M&D CRE presents a 52-unit multifamily opportunity across three portfolios in Waco, Hewitt, and Robinson, Texas. This offering features duplex, quadplex, and apartment assets, providing investors the flexibility to acquire individual portfolios, custom combinations, or the entire collection to scale their Central Texas footprint.
3
Diverse Portfolios
7
Acquisition Options
52
Total Units

Flexible Acquisition Paths
Individual Portfolio
Targeted exposure to a specific submarket.
Combination
Strategic mix of any two portfolio assets.
Full Collection
Immediate scale with the entire 52-unit offering.
This flexible structure allows buyers to align acquisition size, asset type, and investment strategy within a single regional offering.
Portfolio Architecture
The offering includes three distinct multifamily portfolios in the Waco area, allowing investors to acquire individual portfolios, combine two offerings, or pursue the full 52-unit collection.
18
Gruver Portfolio
Duplexes | 9 Properties | 18 Units
16
Bentwood Portfolio
Quadplexes | 4 Properties | 16 Units
18
Kingsman Portfolio
Apartments | 1 Property | 18 Units
52
Total Collection
14 Properties | 52 Units
Portfolio Summary
Flexible Acquisition Options
1
Individual Portfolios
  • Gruver (18)
  • Bentwood (16)
  • Kingsman (18)
2
Two-Portfolio Combinations
  • Gruver + Bentwood (34)
  • Gruver + Kingsman (36)
  • Bentwood + Kingsman (34)
3
Entire Portfolio Collection
  • All Three Portfolios (52)
Investment Thesis
Three different residential formats. One regional investment story.
Why This Portfolio Stands Out
Flexible acquisition structure
Diversified housing formats
Established McLennan County locations
Operational efficiency through clustered geography
Long-term workforce housing demand
Immediate portfolio scale within one regional market
Operationally Efficient Locations
All three portfolios can be toured and managed within one regional market area. Proximity supports operating efficiency for leasing, maintenance, and management. Convenient access to major employment centers, transportation corridors, and Baylor University.
Flexible Buyer Appeal
Suitable for private investors seeking smaller acquisitions. Attractive to buyers seeking scale within a growing Central Texas market. Designed to accommodate individual portfolio buyers and full-collection investors alike.

Few offerings combine immediate unit scale, product diversification, and acquisition flexibility within a single Central Texas multifamily platform.
Gruver Duplex | Bentwood Quadplex | Kingsman Apartments
Rental Housing Demand
The Waco metropolitan area has experienced steady population and economic growth, creating strong demand for rental housing across multiple price segments. Workforce housing in particular continues to experience sustained demand as homeownership costs increase and population migration into Central Texas accelerates.
Population Growth
The Waco metropolitan area continues to benefit from regional migration trends across Central Texas, with population growth driven by employment expansion and improved regional connectivity.
Rental Housing Affordability
Rising home prices, mortgage rates, and overall homeownership costs across Central Texas have increased demand for rental housing throughout the Waco metropolitan area. Properties offering efficient one- and two-bedroom floorplans at attainable rental rates continue to attract strong interest from workforce renters, students, and smaller households throughout the region.
Major Employment Sectors
Baylor University
Healthcare & Medical Services
Logistics & Distribution
Regional Manufacturing & Services
Market Demand Drivers
  • Expanding Central Texas population base
  • Diverse regional employment sectors
  • Strong workforce renter demand
  • Ongoing affordability pressure supporting rentals
Value-Add Opportunities
The portfolio presents multiple opportunities for investors to enhance operational performance, improve revenue efficiency, and create long-term value through focused asset management across three complementary multifamily formats.
Operational Upside Across the Portfolios
Streamline leasing, maintenance, and management through clustered regional ownership to standardize vendor coordination and turnover processes for greater oversight.
Revenue Enhancement Potential
Optimize income by aligning rental rates with market standards while improving tenant retention through consistent service and strategic unit-turn management.
Physical and Asset Positioning Opportunities
Enhance market competitiveness and leasing momentum through targeted exterior and common-area improvements across diverse property formats.

Unlike a single small multifamily asset, the collection offers investors the ability to create value through both individual property execution and broader portfolio coordination. The result is a scalable workforce housing platform within one regional market.
Portfolio 1 of 3
Gruver Duplex Portfolio
18 Units | 9 Buildings | Hewitt, TX
Quick Facts
Asset Type: Duplex Portfolio
Units: 18
Buildings: 9
Approx. SF: ± 19,930 SF
Location: Hewitt, TX
Overview
The Gruver Portfolio consists of multiple duplex buildings offering a straightforward operational profile, neighborhood-style residential appeal, and immediate multifamily scale within the Waco metropolitan area.
Highlights
Efficient multifamily density
Straightforward operations
Low-density residential feel
Workforce housing demand
Manageable multifamily scale
$93,375
Median Household Income
5-Minute Radius
173K
Daytime Population
15-Minute Radius
48%
Renter Share
15-Minute Radius
Portfolio 1 of 3 | Photo Gallery
Gruver Duplex Portfolio
118 E. Gruver Circle | Hewitt, TX

Property Photos
Portfolio 2 of 3
Bentwood Quadplex Portfolio
16 Units | 4 Buildings | Robinson, TX
Quick Facts
Asset Type: Quadplex Portfolio
Units: 16
Buildings: 4
Approx. SF: ± 19,136 SF
Location: Robinson, TX
Overview
The Bentwood Portfolio offers quadplex product within an established Robinson-area location, combining efficient building design, scalable unit count, and strong small-multifamily investment appeal.
Highlights
Efficient small-multifamily scale
Multiple units per building
Operational efficiency
Desirable residential location
Attractive small-multifamily investment
$246K
Median Home Value
5-Minute Radius
150K
Daytime Population
15-Minute Radius
50.5%
Renter Share
15-Minute Radius
Portfolio 2 of 3 | Photo Gallery
Bentwood Quadplex Portfolio
132 Bentwood Dr | Robinson, TX

Property Photos
Portfolio 3 of 3
Kingsman Apartment Portfolio
18 Units | 2 Buildings | Waco, TX
Quick Facts
Asset Type: Apartment Portfolio
Units: 18
Buildings: 2
Approx. SF: ± 12,240 SF
Location: Waco, TX
Overview
The Kingsman Portfolio provides a more traditional apartment investment structure with centralized operations, meaningful scale, and strong positioning within the broader Waco metropolitan market.
Highlights
Traditional multifamily structure
Single-site and centralized operations
Stable rental market fundamentals
Conventional apartment investment
Balanced portfolio scale
Strategic Waco MSA location
73.1%
Renter Share
5-Minute Radius
182K
Daytime Population
15-Minute Radius
153K
Total Population
15-Minute Radius
Portfolio 3 of 3 | Photo Gallery
Kingman Apartment Portfolio
5506 Kingsman Dr | Waco, TX

Property Photos
Entire Collection
52 Units | 15 Buildings | Waco, Hewitt & Robinson, Texas
The full collection offers investors the opportunity to acquire a diversified 52-unit residential platform across three complementary housing formats in one regional market. The portfolio combines duplex, quadplex, and traditional apartment product, creating flexible exposure to multiple renter segments while supporting operational efficiencies through clustered geography.
Flexible Acquisition
Diversified Housing Formats
Operational Efficiency
Workforce Housing Demand
Regional Scale in Waco Metro
Diversified Rental Income
Single Acquisition Opportunity
Immediate Scale
Why the Full Portfolio Works
1
52 total units across three portfolios
2
Diversified duplex, quadplex, and apartment product
3
Flexible acquisition structure for multiple buyer profiles
4
Clustered geography within the Waco metropolitan area
5
Exposure to long-term workforce housing demand

The Waco Multifamily Portfolio combines scale, flexibility, and regional market presence in a format designed to serve both individual portfolio buyers and full-collection investors.
Location and Regional Connectivity
The portfolio is strategically positioned across established communities within the Waco metropolitan area, providing convenient access to major employment centers, educational institutions, healthcare services, and key transportation routes.
Waco, Hewitt & Robinson
All three locations within one regional market, supporting efficient ownership and leasing coordination across the full collection.
Baylor University & Employment Nodes
Access to Baylor University and major healthcare and employment nodes throughout the Waco metropolitan area.
Transportation Corridors
Connectivity to key highways and regional transportation corridors supporting tenant commute patterns and regional accessibility.
Operational Convenience
The clustered regional footprint supports efficient ownership, property oversight, and leasing coordination across the full collection.
Contact and Offering Process
Offering Summary
52 Units | 3 Portfolios | 7 Acquisition Options
Waco Metropolitan Area
For additional information, property access, or financial materials please contact the listing broker.
Contact
Kevin Weable, CCIM
972.845.1663
Next Steps
Additional diligence materials, offering details, and property-level information are available upon request.
01
Request Financial Materials
Contact the listing broker to receive financial information.
02
Schedule Property Tours
Coordinate access to one, two, or all three portfolio locations within the Waco metropolitan area.
03
Submit Offers
Offers may be submitted for individual portfolios, two-portfolio combinations, or the full 52-unit collection.

This offering is subject to prior sale, withdrawal, and change without notice.

Information provided is from sources deemed reliable but not guaranteed. Buyers to independently verify all information.
Non-Endorsement & Disclaimer Notice
Disclaimer: This Marketing Brochure has been created to provide a summary of unverified information to prospective buyers and to generate an initial level of interest in the subject property. The information provided herein is not a replacement for a comprehensive due diligence investigation. M&D Real Estate has not conducted any investigation and makes no warranties or representations regarding the size and square footage of the property and its improvements, the presence of contaminants such as PCB’s or asbestos, compliance with State and Federal regulations, the physical condition of the improvements, or the financial status or business prospects of any tenant. While the information contained in this brochure has been obtained from sources we believe to be reliable, M&D Real Estate has not verified, nor will it verify, any of the details and assumes no responsibility for the accuracy or completeness of the information provided. It is the responsibility of all potential buyers to independently verify all information set forth herein.
Non-Endorsement Notice: M&D Real Estate is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing material. The presence of any corporation’s logo or name does not imply affiliation with, or sponsorship or endorsement by, that corporation of M&D Real Estate, its affiliates, subsidiaries, agents, products, services, or commercial listings. Such logos or names are included solely for the purpose of providing information about this listing to prospective customers.
M&D Real Estate advises all prospective buyers as follows: As the Buyer of a property, it is your responsibility to independently confirm the accuracy and completeness of all material information prior to completing any purchase. This Marketing Brochure is not intended to substitute for your own thorough due diligence investigation of this investment opportunity. M&D Real Estate specifically disclaims any obligation to conduct a due diligence examination of this property on behalf of the Buyer. Any projections, opinions, assumptions, or estimates presented in this Marketing Brochure are for illustrative purposes only and do not reflect the actual or anticipated performance of the property. The value of a property depends on various factors that should be evaluated by you and your legal, financial, and tax advisors. It is essential that the Buyer, along with their legal, financial, tax, and construction advisors, undertake an independent and thorough investigation of the property to assess its suitability for their needs. As with all real estate investments, this investment carries inherent risks. The Buyer and their advisors must carefully review all legal and financial documents related to the property. While the tenant’s past performance at this or other locations is an important factor, it does not guarantee future success. By accepting this Marketing Brochure, you agree to release M&D Real Estate from any liability, claims, expenses, or costs arising from your investigation or purchase of this property.
Special Covid-19 Notice: All prospective buyers are strongly encouraged to fully utilize their opportunities and obligations to conduct detailed due diligence and seek expert advice as needed, particularly in light of the unpredictable effects of the ongoing COVID-19 pandemic. M&D Real Estate has not been hired to conduct, and is not responsible for conducting, due diligence on behalf of any prospective purchaser. M&D Real Estate’s core expertise is in marketing properties and facilitating transactions between buyers and sellers. M&D Real Estate and its professionals do not and will not serve as legal, accounting, contractor, or engineering consultants. We strongly advise all potential buyers to engage other professionals for assistance with legal, tax, regulatory, financial, and accounting matters, as well as inquiries regarding the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees, and in light of the volatility created by COVID-19, buyers should rely solely on their own projections, analyses, and decision-making processes.
Property and financial information from owner and public records. Demographic data from STDB/ESI (estimates and projections). All information subject to independent verification.
M&D CRE is a service mark of M&D Real Estate, LP.
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