Hunter’s Ridge Becomes Elm Creek Apartments After Presidium Group Acquisition
By Anca Gagiuc, Associate Editor
Formerly known as Hunter’s Ridge, the apartment complex at 2358 NW Military Highway, near Hardberger Park, has a new owner and a new name. Presidium Group, a Dallas-based real estate investment and management firm, added the community to its portfolio. A rebranding process led to its being renamed as Elm Creek Apartments.
The property offers 81 units in five different floor plans, including from one to four bedrooms. A $1.1 million renovation to both the interiors and the exteriors will include upgraded flooring, lighting fixtures, appliances, hardware and plumbing. Exterior work includes landscaping, exterior wall upgrades, a pool and leasing office improvements.
“The location of this acquisition, coupled with the renovation and rebranding efforts, significantly increase the potential value of the property,” Cross Moceri, co-chief executive officer of Presidium, reported to the Business Journal .
According to the company’s website, Elm Creek Apartments is its second acquisition in the San Antonio area. In September, Presidium Group created a joint venture with Los Angeles-based private real estate investment firm Tryperion Partners to acquire Oakwell Springs, a 252-unit apartment complex located in the northeast submarket of San Antonio.
“San Antonio’s real estate market is very attractive, and this acquisition is part of our long-term strategy to grow our presence in this market,” said Moceri.
Photo courtesy of Elm Creek Apartments.Tags: acquisition, Acquisitions/Dispositions, Architecture/Design, Brokers, Consumer, Conventional - Market Rate, Development, Elm Creek Apartments, Finance/Investment, Financiers, Hunter’s Ridge, Investors, Local, Managers, multi-family, National, Presidium Group, Professional, property management, Regional, Residential, residential investment, San Antonio, San Antonio Lead Story