News & Updates
Stay up-to-date with the latest developments, acquisitions, and projects from DJE Texas Management Group.
Local firms swap North Side apartments amid market challenges
San Antonio-based DJE Texas Management Group has acquired the Stratton Park Apartments, a 127-unit multifamily complex located at 12324 Starcrest Dr. on the city’s North Side. The terms of the deal were not disclosed, but DJE, through its entity Stratton Park Venture LLC, secured a $10.1 million loan from The Bancorp Bank. The company is also raising $6 million in equity for the property. The site’s assessed value is approximately $8 million, according to 2023 tax records.
Downtown Dunkin' outpost planned for Travis Building, scheduled to open in 2024
Dunkin’ is set to open a new location in downtown San Antonio next year, taking up space on the ground floor of the Travis Building at 405 N. Saint Mary’s St. The building, recently converted from office space to apartments, is owned by DJE Texas Management Group. Although an exact opening date hasn’t been confirmed, a spokesperson for Dunkin’ indicated the store will open in 2024. This new addition comes as downtown donut options have been limited, with Voodoo Doughnut and Shipley Do-Nuts as the primary players in the area.
Local investor buys retail building on western side of downtown
DJE Texas Management Group has expanded its downtown San Antonio presence with the recent acquisition of the Leeds Building at 345 West Commerce St. The vacant retail building, valued at $938,430, will undergo redevelopment, with plans for restaurant retail on the ground floor and coworking office space upstairs. DJE Principal Devin Elder mentioned they are exploring historic tax credits to help finance the project. While no exact timeline has been set, the firm’s in-house construction team will lead the renovation once the tax credit situation is resolved.
Local real estate investor buys Northeast Side apartment complex
DJE Texas Management Group has expanded its San Antonio multifamily portfolio with the acquisition of Hillside Canyon Apartments at 3200 Thousand Oaks Drive. The firm purchased the 231,000-square-foot property from Sylis Capital for an undisclosed amount, securing a $7.2 million loan from CBRE Capital Markets. The property’s 2023 assessed value is approximately $9.8 million. DJE, which already owns properties like The Riley, The WerX, and The Helix, continues to capitalize on San Antonio’s strong migration and job growth in the multifamily sector.
First Look: The Travis Building office-to-multifamily conversion starts taking tenants
The conversion of the Travis Building at 405 N. St. Mary’s St. into a modern apartment complex is now complete, offering 63 one-bedroom, two-bedroom, and penthouse units. Originally a partnership between Harris Bay and DJE Texas Management Group, DJE became the sole owner-operator in April. The project was financed with an $18.25 million loan and a $5 million Texas PACE loan for energy efficiency upgrades. Rents range from $1,550 to $3,200, though ground-floor retail tenants have not yet been announced. The building celebrated its grand opening on June 1.
Travis Building apartment conversion nears completion, scheduled for June grand opening
The conversion of the Travis Building at 405 North St. Mary’s St. into luxury apartments is nearing completion, with a grand opening set for June 1. The 63-unit project, which includes mostly one- and two-bedroom units, along with a few penthouses, is part of a larger trend of office-to-residential conversions. Harris Bay and DJE Texas Management Group acquired the building in June 2020 and secured an $18.25 million loan for the project, with the building’s assessed value rising to $21.9 million in 2023. Rents range from $1,550 to $3,200. The project also received a $5 million PACE loan for energy upgrades.
DJE acquires multiple SA residential communities; to invest $5.2M on renovations
A four-year transformation of the Travis Building at 405 North St. Mary’s St. into luxury apartments is nearing completion, with a grand opening set for June 1. The 63-unit conversion, spearheaded by Harris Bay and DJE Texas Management Group, features a mix of 1- and 2-bedroom units, as well as penthouses, with rents ranging from $1,550 to $3,200. The project benefited from a $5 million PACE loan and is utilizing historic tax credits and opportunity zone funds. The building’s value saw a significant jump, and the development continues to address energy-efficient upgrades.
Real Estate Recap: CBRE Global Investors fund buys 596-unit community
This week in San Antonio real estate: White Tiger Capital is developing a luxury community near Pearl, while Solms Landing in New Braunfels begins construction. The San Antonio Housing Authority is partnering on two new apartment projects near Texas A&M-San Antonio. Cold Creek Solutions is building a cold storage facility in Northeast San Antonio, and Casey Development started a 321-unit complex near Loop 1604. Baptist Health System plans a new medical campus in Westover Hills. In acquisitions, CBRE Global Investors bought Preston Peak, and DJE Texas Management Group acquired Limestone Oaks Apartments for renovation.
Local investor buys 282-unit Northeast Side apartment complex
DJE Texas Management Group, a local apartment investor, acquired the 282-unit Saddlewood Apartments on San Antonio’s Northeast Side, for an undisclosed price. The property, last assessed at $14.3 million, was sold by KCB Real Estate Management, which bought it in 2012. Rebranded as Alamo Oaks, the garden-style community offers one- to three-bedroom units with an average size of 920 square feet and rents around $808 per month. DJE plans to invest nearly $1 million in renovations, including upgrades to the leasing office, gym, pool, and select units. This marks DJE’s seventh acquisition in the area.
Local real estate company adds 128-unit apartment to portfolio
DJE Texas Management Group has acquired the 128-unit Fairway Manor apartments in Seguin, marking its first venture into the city and its sixth acquisition in the San Antonio area. The property, last assessed at $4.3 million, was sold by a private seller from San Jose, California. Built in 1973, the garden-style community offers one- to three-bedroom units across 17 buildings. DJE plans over $500,000 in capital improvements, including a rebranding, renovations to the leasing office, gym, pool, and private yard additions, along with upgrades to select units’ cabinets, countertops, and appliances.
(Multi)family Values: What's driving SA's red hot value-add market?
Nearly 15% of San Antonio’s apartment complexes traded hands last year, with many deals involving older Class B and C properties. These value-add assets, which make up over 72% of the city’s rental market, offer affordable housing and opportunities for improvements that increase value. Investors typically focus on upgrading units, raising rents, and improving amenities like leasing offices, gyms, and pet facilities. Local investors like Devin Elder of DJE Texas Management Group and out-of-state firms such as Austin-based GVA Real Estate Group are active in this market. Some investors, like nonprofit Prospera Housing, also focus on enhancing tenants’ lives through community programs.
Local firm buys Northeast San Antonio apartment complex
DJE Texas Management Group has acquired its fourth value-add property in San Antonio, the 106-unit Terrace Apartments in Northeast San Antonio. Built in 1974, the complex includes one- to three-bedroom units and amenities like a pool, laundry facilities, playground, and business center. The property, assessed at $4 million, will undergo interior renovations, a rebranding, and deferred maintenance repairs. DJE plans to hire a new management team and improve the community for both residents and investors. This acquisition brings DJE’s total to 407 units in San Antonio, with more properties expected to close in April.
Downtown Leeds Building sold to DJE Group
DJE Texas Management Group has expanded its downtown San Antonio footprint with the purchase of the vacant Leeds Building at 345 West Commerce St. The property, assessed at $938,430, will be redeveloped into a mixed-use space with restaurant retail downstairs and coworking office space upstairs. DJE is exploring the use of historic tax credits for financing, with plans to begin renovations once that process is finalized. The firm’s in-house construction team will handle the project. This acquisition follows DJE’s move to downtown and its recent conversion of the Travis Building into apartments.