Portfolio - Promontory

1800 Plaza is a Class B asset with two office buildings totaling 109,748 square feet of leasable space. The property is strategically located on the northeast loop of Interstate 410, just minutes from the San Antonio International Airport. The asset offers quick and convenient access to and from key business centers, hotels, preferred retail, entertainment, and dining establishments in the San Antonio metro area.

1800-1802 Plaza consists of two towers of four and five floors, respectively. The property was 42% occupied at acquisition, while comparable properties are 92%. The buildings’ configuration and floorplans are well suited for a variety of tenant sizes and include covered parking spaces. The location is extremely convenient to two major freeways and just minutes from the San Antonio International Airport. Capital expenditures are estimated to be $1.6M, which includes new elevators, HVACs, exterior, common area interior upgrades, and a new roof for the East Tower. The average rent per square foot was $16 at acquisition while the average for competitors is $20 to $22 per square foot.

Alamo Towers is a Class B asset with two buildings totaling 185,082 square feet of leasable space. It is considered as an iconic property in San Antonio (the “Alamo” city). The property is strategically located on the northeast loop of Interstate 410, just minutes from the San Antonio International Airport. The asset has panoramic views of San Antonio and the suburban skyline and offers quick and convenient access to all parts of the city. The property has a niche location with unmatched visibility and frontage along Loop 410

Peanut Factory Lofts is a 102-unit new construction Class A multifamily investment opportunity strategically located in the rapidly growing San Antonio urban core. The historic building is located in close proximity to downtown San Antonio, employment opportunities, the downtown UTSA university campus, and entertainment facilities.

Peanut Factory Lofts has a unique metropolitan layout and views that appeal to millennials and professionals. The Property has a good mix of studios, one, two and three-bedroom apartments. The historical silo building offers unique floor plans with one-bedroom curved walls, while the new buildings offer a variety of traditional floor plans with 2-story flats, 2 & 3-story townhomes and an exceptional penthouse with 3 individual decks with over 800 sq. ft. and spectacular views of downtown San Antonio. The average unit size is 944 sq.ft. Upscale amenities include a resort style pool and cabana, a fully equipped fitness facility, a grassy courtyard complete with fire pit and life-size games, dog park, and gourmet kitchens and urban interiors. We have budgeted upgrading all countertop kitchens with black granite and stainless steel appliances, bringing the property to a higher level.

Villa Espada is a new Class A property located in the rapidly growing San Antonio Metro area. Located just one block from the Mission del Lago golf course and minutes from the Toyota Manufacturing Plant, CPS Energy Plant, Brooks City-Base and the growing Texas A&M University-San Antonio campus.

Built in 2015, Villa Espada is a new Class A construction consisting of 240 units in 12 buildings. The property offers luxurious and outstanding amenities like a sparkling pool with a tanning ledge, 24-hour fitness center, internet café/coffee bar, fire pit and a BBQ area. There is limited competition in other Class A properties within a 7 miles’ radius. Villa Espada will benefit from growth on the Southside and is the “best in class” property in the immediate area.

Clear Point Gardens is a 604-unit Class B/C apartment community in Columbus, Ohio. The property is located just 10 minutes away from the new Class A Easton Town Center, a 1.65 million sqft upscale shopping mall attracting over 22.5 million visitors per year. The neighborhood is seeing a rejuvenation driven by the Easton Town Center. A brand new $20M Kroger’s grocery store which will employ 300 employees opened in October 2016 adjacent to the property.

Clear Point Gardens is a 604-unit property offering a strong unit mix with 1,2 and 3-bedroom apartments. The north side of the property has 3-story buildings and the south side has 2-story buildings. The property has 7 onsite laundry facilities, 24-hour emergency maintenance, and a community pool & playground. Apartment amenities include either a patio or a balcony, linen closets stove/oven, dishwasher, and cable ready. Upgraded units are currently getting a $50 rent premium (currently 92 units are upgraded) and offer microwaves, new A/C, countertop replacement and/or countertop resurfacing, new appliances and updated cabinets. Townhomes have W/D hookups. Clear Point Gardens accounts for 41% of the submarket’s inventory offering the property market superiority and pricing power. Through moderate interior upgrades and additional amenities, we can increase rents, push revenue higher, and boost the resale value

Eagle Point Apartments is a Class B property in located in Durham, NC. Eagle Point is situated in the heart of Durham. The property is in between Durham college and Research Triangle Park which employs thousands with high paying jobs. Built in 1966, Eagle Point Apartments are a class B property consisting of 223 units. The property is well maintained and positioned to elevate its marketability among competing properties with minor capital improvements. The property has undergone many upgrades from the prior owner without capturing increases in rents in an area experiencing significant market rent growth.