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Ridge at Southcross

Class: B
Property Details: 1974 | Garden-Style | 212 Units
Locations: San Antonio, TX
Acquired Date: October 2016
Sold Date: August 2022 

Initial Loan: $9,328,000
Rehab Budget: $525,000
Supplement Loan: $1,885,000
Initial Investor Equity: $2,945,000
Investment Period: 3-5 Years

Results For Our Investors

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Rent Growth

Equity Multiple

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Total Return

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IRR

Investment Summary

Acquired in 2016, the Ridge at Southcross is a 212-unit property located near Brooks City Base. Our plan involved enhancing the property with a fitness center, remodeled leasing office, pool renovations, a sun deck, and improved landscaping. We also upgraded 132 units with new flooring, blinds, USB ports, and kitchen backsplashes. This led to a supplemental loan in February 2020, returning 40% of the initial capital to our investors.

Ridge at Southcross Lobby 3
Ridge at Sothcross IMG_3974
Ridge at Sothcross pool
Ridge at Sothcross lobby
Ridge at Sothcross living
Ridge at Sothcross lobby 2
Ridge at Sothcross dinning
Ridge at Sothcross outside pool
Ridge at Sothcross IMG_3977
Ridge at Sothcross IMG_3973
Ridge at Sothcross kitchen
Ridge at Southcross Lobby 3 Ridge at Sothcross IMG_3974 Ridge at Sothcross pool Ridge at Sothcross lobby Ridge at Sothcross living Ridge at Sothcross lobby 2 Ridge at Sothcross dinning Ridge at Sothcross outside pool Ridge at Sothcross IMG_3977 Ridge at Sothcross IMG_3973 Ridge at Sothcross kitchen

Additional Sold Properties in San Antonio

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175% Investment Return
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Candleridge Park

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173% Investment Returns
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