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CLOSED — 228 Units — SAN ANTONIO, TX

1

Encore281 Apartments
24442 N Highway 281, San Antonio, TX 78258

IMG is sponsoring the syndication of Encore281, a multifamily community in San Antonio, through a 506(c) offering.

Minimum Limited Partner Investment: $25,000 *Fully Subscribed
Minimum Tenant in Common Investment: $750,000 *Fully Subscribed

Investment Highlights

  • IMG sourced the property off-market
  • 2015-built with modern community amenities package
  • 1, 2 & 3-bed unit mix; Eight total floor plans averaging 915 SF
  • Increasingly central and desirable location as the Highway 281 infrastructure project accommodates further northward submarket expansion towards Austin, Texas.
  • Phase 1 of the half-billion dollar construction project began in 2017 and is completing this year. Phase 2 (in progress) will finish in 2022.
  • Highway 281 is a primary connector between San Antonio and I-1604 to the south, and Austin, and the communities of Stone Oak and Spring Branch to the north. Traffic flow through the corridor is currently 91K vehicles daily.
  • North San Antonio rents have historically pushed above the metro average
  • Rents across the submarket are projected to accelerate quickly at year-over-year growth around 3%, beginning this year
  • High household incomes ($100K+ within 2 miles of property) yet relatively affordable rents keeps demand healthy and vacancies tight
  • San Antonio - "America's Next Boom Town" - Forbes
  • #2 Fastest-Growing City - U.S. Census Bureau
  • State of Texas ranks #1 - "Where Millennials Are Moving, 2020 Edition" - SmartAsset.com
  • Texas in top 2 states for in-migration for the fifth straight year - U-Haul, Jan 2021
Close Date: April 22, 2021
Property Type:  MF, Garden
Units: 228
Total Investor Capital:  $14,517,000
Purchase Price:  $33,000,000
Minimum Investment:  $25,000
SD-IRAs Accepted?  Yes
Funds Due:  April 12
Target Hold Period:  5 years
Targeted Investor IRR:  12.3%
Targeted Equity Multiple:  1.7x
Targeted Avg Annual Cash/Cash:  6.6%
Distribution Start Date (Est):  July 2021
Distribution Frequency:  Monthly

This investment offering is no longer available. To request waitlist availability for future multifamily investment opportunities, contact:

DAVE MIKKELSEN

Director, Investor Relations
David.Mikkelsen@imgre.com
(747) 262-5652

KARLIN CONKLIN

Principal
Karlin.Conklin@imgre.com
(747) 262-5685