Silver Rock Apartment Homes
About this Property
Silver Rock Apartment Homes is a rare Class A institutional multifamily investment opportunity located in the booming northwest area of San Antonio, TX. Built in 1996/1997, the property consists of 328 units with a full complement of resort-like amenities and custom unit features. The value-add repositioning strategy includes luxury interior and exterior enhancements that are expected to deliver 10.5% cash-on-cash annualized returns over the first five years and a 20% year-five IRR. Silver Rock is strategically located near flourishing employment centers, retail and schools. San Antonio’s low 3.8% unemployment rate coupled with the area’s 94% Class A occupancy and the growth of the northwest market makes Silver Rock an ideal investment opportunity.
- Regional Investment & Management (“RIM”) has a proven track record of delivering 20% plus IRR to investors and has been a market leader since 2004
- Rare “Class A” Institutional Grade Multifamily asset being acquired approximately 20% below replacement cost
- RIM’s proven repositioning strategy includes: rebranding, updating unit interiors along with comprehensive renovations to property exterior and amenities, which are expected to result in 10–15% rent growth
- A 3.8% unemployment rate and 3.2% job growth makes San Antonio one of the most stable economies in the U.S.
- $7,100,000 has already been raised