Completed
San Antonio, Texas
Algarita Lakeside
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Property Overview
The Opportunity
Acquisition of a 293-unit multifamily community from a distressed Tenant-In-Common "TIC" partnership. Located just north of Alamo Heights in San Antonio, TX, the property was heavily renovated. Despite the property being hit with the largest hail storm in Texas history that destroyed 25 metal roofs which lead to lawsuits with the insurance company, being struck by a tornado, COVID, and a damaging winter storm the project produced a successful outcome for our investors producing a 2.15X equity multiple.
Competitive Advantage
Lessons Learned
Property Location
Documents & Financials
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Related Articles
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Investment Summary
Property Type:
Multifamily
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Strategy:
Value-Add Acquisition
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Address:
8555 Laurens Ln, San Antonio, TX 78218
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Investment Date:
November 1, 2015
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Est. Hold Period:
5.7
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Total Capitalization:
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Loan To Cost Ratio:
N/A
Est. Exit Cap Rate:
N/A
Investor Preferred Return:
N/A
Property Type:
Multifamily
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Strategy:
Value-Add Acquisition
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Address:
8555 Laurens Ln, San Antonio, TX 78218
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Investment Date:
November 1, 2015
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Disposition Date:
July 1, 2021
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Hold Period:
5.7
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Realized IRR:
14.4%
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Equity Multiple:
2.15x
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Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Exit Cap Rate:
N/A
Realized Investor Return:
N/A
Property Type:
Multifamily
N/A
Strategy:
Value-Add Acquisition
N/A
Address:
8555 Laurens Ln, San Antonio, TX 78218
N/A
Investment Date:
November 1, 2015
N/A
Disposition Date:
July 1, 2021
N/A
Hold Period:
5.7
N/A
Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Cap Rate at Close:
N/A
Realized Investor Return:
N/A
Land
Govalle
Austin, TX
Acquisition 2+ acres in East Austin to subdivide into single-family lots.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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Land
12th & Hargrave
Austin, TX
Acquired 5.78 acres at a foreclosure auction in East Austin for future townhome development.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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Commercial
504 E. 8th
Austin, TX
Acquisition and Entitlement of a Downtown Austin surface parking lot.
Commercial
Property Type:
Commercial
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Property Type:
Commercial
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Property Type:
Commercial
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Land
Decker
Austin, TX
Acquired 58 acres off Decker Lane in East Austin. The acquisition was part of a land assemblage with multiple sellers. During entitlement, we subdivided the land selling a tract to our northern neighbor and retaining ownership of an industrial tract, and 20 acre multifamily tract.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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Land
NB North
New Braunfels, TX
Off-market acquisition of 22.13 acres of fully entitled land for future multifamily.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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Land
Johnny Morris
Austin,TX
Acquisition of 22.13 acres zoned Light Industrial. We were able to rezone to Multifamily within 6 months of acquisition. We are currently joint venturing to develop a 375-unit multifamily community.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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