The Place at Commerce is a 184-unit apartment community in the in the heart of the thriving and rapidly growing economy of downtown San Antonio, Texas. The Innovative Multi-Family Investments team acquired the property well below market value. As the prices continue to rise as multifamily rental demand rises, the property value increases.
In 2012, a total of $1.2 million dollars was reinvested in the property, resulting in it earning accolades as the 2012 Property of the Year by the San Antonio Apartment Association. The property was exceptional value add opportunity.
The key elements of this acquisition are newly upgraded units, city capital invested in neighborhood revitalization, and opportunity for rent increases. The demand for rental units in this market creates opportunity to increase rents, thereby increasing property value.
Visit The Place at Commerce website for more details.