DJE Texas Management Group, a San Antonio based real estate investment company, today announced the acquisition of Saddlewood Apartments in San Antonio, Texas. The property will be rebranded and known as Alamo Oaks moving forward. The purchase of Alamo Oaks is part of DJE Texas Management Group’s ongoing mission to broaden its multifamily real estate portfolio with qualified assets to create passive income streams and capital gains for its accredited & sophisticated investors. This is the company’s seventh multifamily property acquisition in Central Texas.
Alamo Oaks is a 282-unit garden-style community featuring apartment homes ranging from one to three-bedroom units. The community is situated in Northeast central San Antonio, at the convergence of Interstate Highway 35 and Loop 410, along one of Central Texas fastest growing corridors. The Property benefits from excellent frontage on Loop 410 with over 150,000+ vehicle traffic per day and provides residents easy access to the Airport, Fort Sam Houston, Downtown San Antonio as well as the entire metro. Close proximity to major employers like Rackspace and major attractions like The Pearl make location a standout feature of the acquisition. The sale was brokered by Forrest Bass of HFF.
DJE Texas Management Group has nearly $1,000,000 in capital improvements planned including a rebranding of the property and renovation of the office, gym, and pool areas. Select units also will receive cabinet, countertop, light fixtures and kitchen appliance upgrades.
DJE Texas Management Group invests only in assets that meet its rigorous and conservative underwriting standards. San Antonio’s diverse employer base, employment growth, and positive net migration trend continue to make it an attractive location for value add multifamily investments.
“We are happy to add Alamo Oaks to the DJE Portfolio and we’re looking forward to getting started.” says DJE Texas Management Group Principal Devin Elder. “Alamo Oaks presents an excellent opportunity to improve an already performing asset in an outstanding location.”