Hunter’s Ridge Becomes Elm Creek Apartments After Presidium Group Acquisition
- Nov 19, 2013
Formerly known as Hunter’s Ridge, the apartment complex at 2358 NW Military Highway, near Hardberger Park, has a new owner and a new name. Presidium Group, a Dallas-based real estate investment and management firm, added the community to its portfolio. A rebranding process led to its being renamed as Elm Creek Apartments.
The property offers 81 units in five different floor plans, including from one to four bedrooms. A $1.1 million renovation to both the interiors and the exteriors will include upgraded flooring, lighting fixtures, appliances, hardware and plumbing. Exterior work includes landscaping, exterior wall upgrades, a pool and leasing office improvements.
“The location of this acquisition, coupled with the renovation and rebranding efforts, significantly increase the potential value of the property,” Cross Moceri, co-chief executive officer of Presidium, reported to the Business Journal .
According to the company’s website, Elm Creek Apartments is its second acquisition in the San Antonio area. In September, Presidium Group created a joint venture with Los Angeles-based private real estate investment firm Tryperion Partners to acquire Oakwell Springs, a 252-unit apartment complex located in the northeast submarket of San Antonio.
“San Antonio’s real estate market is very attractive, and this acquisition is part of our long-term strategy to grow our presence in this market,” said Moceri.
Photo courtesy of Elm Creek Apartments.