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Atrium Commons

Class: B
Property Details: 1985 | Garden-Style | 256 Units
Locations: San Antonio, TX
Acquired Date: October 2017 
Sold Date: 2021 

Initial Loan: $14,440,000
Rehab Budget: $700,000
Investment Period: 4 Years

Investment Summary

Atrium Commons, a garden-style property with 256 units, is nestled in Northwest San Antonio, Texas. Built in 1983, this apartment community is strategically located near the medical center and major employers such as USAA and Security Service Federal Credit Union. With an array of 176 one-bedroom and 80 two-bedroom units, the property underwent a strategic improvement to enhance cash flow and profitability. This comprehensive strategy included raising rents to the market average, creating additional income streams, reducing controllable expenses, and repositioning the property to attract higher-quality tenants, aiming to decrease turnover. The property’s extensive refurbishment, included interior unit renovations and upgrades.

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