Timberhill Commons
- Steeve Breton
- Nov 30, 2021
- 1 min read
Updated: Nov 29, 2023
A-Class luxury community, 340 units, San Antonio, TX
Property:
Timberhill is an A-Class multifamily asset built in 2020. The property has 340 units and a club house, gym, resort style pool and much more.
Strategy:
Acquire the asset, replace the management team, reduce expenses and bring rents to market levels. In place rents are between $250-$300 per unit below market. Raising rents only $250 per unit during the first year of ownership will add approximately $1M in yearly net operating income and >$20MM to the property's valuation.
Highlights:
San Antonio's multifamily rent growth is among the best in the country.
High growth market with excellent population and job fundamentals
Newly built / quality construction
Resort style amenities
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