Our Portfolio
324 Units • San Antonio • Apex Apartments
APEX APARTMENTS
Units: 324
Year built: 1996
Location: San Antonio, Texas
Acquired: September 2020
Purchase price: Undisclosed
1031 exchanges: 6
Equity invested: $18.5M
CapEx budget: $2.5M
West Coast group preps $38.5M deal; first Texas buy in a decade − San Antonio Business Journal
West Coast-Based IMG Seeks Limited Partners for SA Buy - Connect Texas - Commercial Real Estate News
Investors Management Group Enters Texas Multifamily Market with $38.5 Million Acquisition of Apex Apartments in San Antonio − MultifamilyBiz
Investment Highlights
Discounted asset pricing and historically low debt rates provide uniquely attractive circumstances for this acquisition. IMG focused on conservative underwriting to account for the uncertainties of a pandemic environment.
Located in North San Antonio, Apex offers a compelling value-add opportunity:
- Unit mix & townhome floor plans unmatched in the competitive set
- Historically strong occupancy
- $9M in renovations completed in the past 5 years
- Located outside of the downtown core; aligned with post-CV19 population shift
- San Antonio and the state of Texas are ranked among the nation's fastest growing economies and populations