Our Portfolio



Azul Apartments

Units: 246
Year built: 2007
Location: San Antonio, Texas
Acquired: June 2021
Purchase price: Undisclosed
1031 exchanges: 8
Equity invested: $15.8M
CapEx budget: $1.5M

Investment Highlights

Azul Apartments offers access to Loop 1604, Hwy 16, I-10 and Loop 410, providing residents easy commutes to San Antonio’s major employment hubs. The community offers residents an urban clubhouse, business center, swimming pool, pool lounge/game area, 24-hour fitness center, grilling station, picnic areas, basketball court and carport parking area. The gated community consists of 11 buildings encompassing a mix of one-, two- and three-bedroom floor plans averaging 868 square feet.

Two miles south of Azul is the South Texas Medical District, which accounts for almost all the 145,000 health care jobs in San Antonio. The stability and growth in the city’s healthcare, government, and tech sectors are expected to positively support multi-family demand in the submarket. Despite the pandemic, interest in corporate relocations and expansions to Texas from California and other states is strong. Major tech companies continue to announce plans to move to Texas—an exodus forecasted to further fuel the Lone Star state’s rental housing market.