The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 18, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

ETC... ETC...
Printer-friendly Version   Email an Associate
Investors Management Group Spends $33 Mil on TX Multifamily Property


Investors Management Group (IMG) has acquired Encore281 Apartments, a 228-unit res community in North San Antonio, for $33 mil, or $144.7k per unit. Built in 2015, the property is located directly on US-281 in the city’s prestigious Stone Oak neighborhood.

Encore281 offers residents an urban clubhouse with tech lounge and Texas Java Bar, 24-hour fitness studio, covered parking garages, pool, cabanas, picnic area, grilling stations and a dog park. The gated community consists of 11 buildings encompassing a mix of one-, two- and three-bedroom floor plans.

The community’s desirable location along Highway 281 N. provides residents with easy access to all parts of northern San Antonio as well as the airport and San Antonio’s CBD. In addition, IMG plans to invest approximately $1.2 mil in capital improvements.

"We think the San Antonio-Austin corridor is a terrific growth story. There’s a tremendous amount of business expansion nearby propelling the multifamily market," said IMG CEO Neil Schimmel. "When the Highway 281 construction ends, it's going to open a floodgate from Austin and bring a new wave of higher-income renters seeking an affordable apartment market."

Sean Sorrell, Greg Toro and Robert Arzola at JLL Capital Markets served as brokers in the transaction. Freddie Mac financing was secured through Charlie Mentzer at Capital One.

Return to the Archive page



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media