200 UNITS — SAN ANTONIO METRO
Heights at Converse
Year built: 2016
Location: Converse, Texas
Submarket: Northeast San Antonio
Acquired: July 2021
1031 exchanges: 7
Purchase price: Undisclosed
Equity invested: $15.6 million
CapEx budget: $1.2 million
In the News
Woodland Hills Firm Adds 200 Apartments to Texas Holdings - San Fernando Valley Business Journal
IMG Now Owns Four San Antonio Assets After Heights Buy - Connect Texas
Bay Area developer sells Converse apartments to another California group - San Antonio Business Journal
Heights at Converse benefits from a prime location near Randolph Air Force Base and the I-35 Corridor. The San Antonio-Austin Corridor is one of the fastest-growing regions in the United States, currently home to 4.5 million people and expected to grow to 6-7 million people by 2030.
The modern, garden-style apartment community provides convenient access to retail centers and San Antonio’s diverse employment sectors. It is positioned at the intersection of two main thoroughfares through Converse - Kitty Hawk Road and Topperwein Road.
The gated community boasts an attractive site layout on a hill with an appealing exterior aesthetic. Unit interiors offer 9-foot ceilings, modern floor plans with dens in select one-bedroom plans, and a spaced bed/bath arrangement in the two-bedroom floor plans.
Heights at Converse marked IMG's third Texas apartment acquisition in 2021.