JLL Sells Value-Added Asset
- Aug 31, 2015
By Anca Gagiuc, Associate Editor
Where there is room to add value, investors will seize the opportunity. Full-service global provider of capital solutions JLL Capital Markets recently closed the sale of Silver Rock Apartments, a 328-unit apartment community located in northwest San Antonio.
Managing Director Scott LaMontagne and Senior Vice President Moses Siller led the JLL team representing the seller, Harbor Group International. California-based Regional Investment & Management is the new owner of the Class A apartment community. The financial aspects of the transaction have not been disclosed.
“Silver Rock Apartments is strategically positioned near San Antonio’s largest employment center, high-end retail and restaurants, and medical industry leaders,” said LaMontagne. “Combined with the value-added opportunity and strong return rate, Silver Rock Apartments is a great long-term investment.”
The ranch-style community was built in 1996 and 1997 and offers one-, two-, and three-bedroom apartments among resort-like amenities including a 24-hour fitness center, pool and spa, picnic area, and club room. Planned luxury amenities for the units include hardwood floors, upgraded appliances, track lighting kits, and washer and dryer upgrades.