Utilizing our relationship with equity sources, PRA sponsors the acquisition, identifies the opportunity, provides the due diligence, negotiates the debt structure, closes the transaction, and provides asset management with close ties in the property management team. Our focus is on strong markets with job growth. We look for value add and opportunistic purchases and investments.
We have built and stabilized 4,450 units of low income, mixed-income, and market rate apartments in Texas and Louisiana. Over the past 24 months the company has acquired more than 3,200 units of existing, value-add multi-family opportunities. Provident is proficient in using Low Income Tax Credits, Historic Tax Credits, and other incentive programs to create new opportunities in multi-family development. Provident currently has 1,500 apartment units under construction and will begin construction of another 1,500 units over the next 12 months.
Provident currently owns Class A and B multi-family properties in San Antonio, Austin, Dallas, Houston, New Orleans, Shreveport, and Monroe.