Shadow Creek Apartments

• Built in 1999, Shadow Creek Apartments is a 108 unit multifamily community located in San Antonio, Texas
• The property was purchased in March 2021 alongside an Austin based sponsor partner
• The business plan called for the immediate change of on-site property management, replacing with a national property management company to improve operational efficiencies
• In addition, significant capital improvements were budgeted for interior upgrades and exterior enhancements, enabling the team to re-lease previously below market units
• Held for just under 14 months, in April 2022, this asset was successfully sold opportunistically