Pecan Tree Apartments:
This 172 unit apartment complex located at 3001 Kendale in Dallas, Texas was purchased in June, 1995 with partner Steven Loftus.  The property was only 65% occupied at time of purchase, was mismanaged and required extensive renovations.  Mr. Gillean was directly responsible for the rehab and lease-up and stabilization of the property.  With Mr. Gillean’s direct supervision and a renovation to include only the cash flow generated by the property, improvements were performed with the intent of attaining maximum occupancy and tenant satisfaction.  Within 18 months, the lease-up and renovation was completed.  Shortly thereafter, the property was sold at nearly twice the original investment in September, 1997 to a local private investor.