Property Type: Multifamily
In partnership with Lowe Enterprises, FCA acquired Sunrise Canyon Apartments in 2016. This 208-unit, garden-style apartment property was constructed in 2005, and it offers a convenient location in the northeast suburbs of San Antonio. The property is within minutes of The Forum at Olympia Parkway (a regional shopping area) and Randolph Air Force Base. Residents are close to Loop 1604 and IH-35, providing them quick access to either downtown San Antonio or the growing New Braunfels area. Community amenities include a swimming pool with pergola and grilling station, fitness center, clubhouse, pet park, private garages, and covered parking.
This was a value-add investment; during the hold period, the partnership renovated the clubhouse/leasing center and performed light renovations to unit interiors. This property was sold in 2018.