TWITTER            LINKEDIN Chicago Office: 120 E. Liberty Dr. Wheaton, IL 60187
Austin Office: 500 W 5th St. Austin, TX 78701

1.7 Years

Hold Term

19.4%

IRR

1.33x

Equity Multiple Return

Sunrise Canyon Apartment Homes

501 Sunrise Canyon Dr Universal City, TX 78148

Property Type: Multifamily

Sold in Q3 of 2018 in a joint-venture partnership with Lowe Enterprises, Sunrise Canyon Apartment Homes is a 208-unit apartment community located in the northeast suburbs of San Antonio, TX. The property is within minutes of The Forum at Olympia Parkway, a master-planned retail center, and Randolph Air Force Base. Residents are close to Loop 1604 and IH-35 giving quick access to either downtown San Antonio or New Braunfels, TX. The property is a mix of 1 bedroom, 2 bedrooms, and 3 bedrooms with almost all units having washer/dryers in unit, raised panel maple cabinetry and wood vinyl plank.  Amenities include a swimming pool, fitness center, clubhouse, pet park with water station, private garages, covered parking, and a poolside pergola with a stainless steel propane barbecue grill.

During ownership, there was a light value-add investment with the majority of improvement focused on a complete renovation/ modernization of the clubhouse and fitness center.