Fort Worth Investor Makes an Entrance in San Antonio’s Multifamily Market
- Jun 05, 2015
By Anca Gagiuc, Associate Editor
Shortly after acquiring Renaissance Village at Shadow Lake in Houston, Fort Worth-based real estate investment firm Olympus Property took its first step into the San Antonio market by purchasing the Tacara at Westover Hills apartment community. Details of the transaction remain undisclosed.
Built in 2014, Tacara at Westover Hills sits on 14 acres in the heart of one of San Antonio’s fastest-growing submarkets off State Highway 151, near Loop 410. Part of a master-planned development that covers more than 1,300 acres, the location is home to more than 40,000 employees of JPMorgan Chase, Microsoft, QVC, Maxim, Northwest Vista College, Sea World, Petco and Texas Cryptology Center. Moreover, the property is conveniently located near retailers like Target, Gander Mountain, Walmart and Lowe’s, while Northside Independent School District is less than 20 minutes away.
The Class A complex offers 312 apartments divided into 192 one-bedroom, one-bath units; 108 two-bedroom, two-bath units; and 12 three-bedroom, two-bath units. Community amenities include a resort-style pool with sun deck, a fitness center, a business center, an outdoor kitchen and an outdoor fireplace with TVs, a dog park, covered parking, and detached garages. Apartment amenities feature vaulted ceilings, garden-style soaking tubs, keyless entry and oversize patios.
The transaction marks the fifth property added to Olympus Property’s fourth fund, WW Olympus Property IV LLC. Investors can diversify among six to seven Class A multifamily assets in markets throughout the U.S.
Photos courtesy of Tacara at Westover Hills.