3832
Units
$825m
Value
13
Assets
Within the Austin and San Antonio markets, we are looking for assets that can be improved upon.
Whether that is through repositioning, renovations, improved operations or other creative
strategies, we focus on finding value-add assets.
Acquisition Criteria
Location
Location is a major factor driving our decision about which assets to pursue. We are looking to buy in established, B-class and better neighborhoods. We don’t look in areas that “might one day” turn around, or are hoping to be in the “path of progress”. Those buzz words tell us the area won’t support or attract the types of quality residents we aim to attract. We believe that if you buy in a good, strong area today you can be confident that area will remain good and strong throughout your hold period.
Conviction
We aren’t trying to buy every deal we see. We are looking for special assets in special locations–something that speaks to us. Every asset we own has a unique quality that we can point to as to why we own it. We have a real conviction in the business plan, in the location, in the ability to implement change. Real estate is both an art and a science, and this is the artful side to our approach. We love every deal we own, because we have conviction about it.

Reserve at Walnut Creek
Austin, TX
Hold Period
39
Increase in Valuation
72.5%
IRR
34.75%
Equity Multiple
2.5x

The Joseph at Huebner
San Antonio, TX
Hold Period
52
Increase in Valuation
75.2%
IRR
25.18%
Equity Multiple
2.3x

The Blairs at Bitters
San Antonio, TX
Hold Period
30 Months
Increase in Valuation
31.5%
IRR
20.2%
Equity Multiple
1.58x

The Henry B
San Antonio, TX
Hold Period
30 Months
Increase in Valuation
31.5%
IRR
20.2%
Equity Multiple
1.58x

The Baxter at Westwood
Austin, TX
Hold Period
29
Increase in Valuation
41.85%
IRR
36.00%
Equity Multiple
2.2x
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