JLL Sells Value-Added Asset
Where there is room to add value, investors take the plunge.
By Anca Gagiuc, Associate Editor
Silver Rock Apartments
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.
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