Our Portfolio

324 Units • San Antonio • Apex Apartments

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APEX APARTMENTS

Units: 324
Year built: 1996
Location: San Antonio, Texas
Acquired: September 2020
Purchase price: $38.5M
1031 exchanges: 6
Equity invested: $18.5M
CapEx budget: $2.5M

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