Bella Madera Apartments offered the opportunity acquire a 328-unit Class B workforce housing, garden-style apartment project located in San Antonio, Texas, on the edge of Shavano Park. Originally constructed in 2006, the community is value-add investment with significant opportunity for expense savings based on the operator’s, GVA’s, position in the market and experience with value-add. Bella Madera is situated in a prime location, blocks away from shops, restaurants, and theatres for entertainment.
Planned interior and exterior upgrades and improvements include
- all units will receive new vinyl plank flooring, granite countertops, cabinet doors, backsplashes, lighting and plumbing fixtures, paint and full-size washer/dryers
- exterior landscaping, branding / signage, and office refresh
Value creation for the investment will be delivered through the addition of new revenue sources, improving rents to match surrounding market and leveraging our partner’s / the operator’s “GVA Advantage:”
- Economies of scale with over 4,500 units in San Antonio
- In-house management, reducing costs and increasing NOI
- Clear and current data about market rents and expenses