Catalyst Moves to San Antonio Market
- Jun 07, 2016
San Antonio—Denver-based Catalyst Multifamily Management, which is very active in the Dallas/Fort Worth area, has expanded its operations into the San Antonio market. The company, a subsidiary of MBP Capital Inc., took over the property management responsibilities of three C+ properties in San Antonio, totaling 390 units. The communities are:
- Ashler Oaks Apartments—located at 4100 Parkdale St., built in 1971 with 150 units;
- Sierra Royale Apartment Homes—located at 6300 Rue Marielyne, built in 1984 with 108 units;
- Veranda Apartments—located at 7018 Jones Maltsburger Road, built in 1972 with 132 units.
“These properties should be B class deals. Our goal at Catalyst is to take on properties that have high potential and a need for strong, well thought out and aggressive management plans,” said Cathy Finn, vice president and managing principal of Catalyst Multifamily Management. “Our property owners always see an immediate improvement in NOI, occupancy, quality of their assets and residents. We push rents to their maximum level while maintaining strong occupancy. Pushing value is what we do. Typically our rents set the market.”
All three communities are in convenient locations with easy access to major highways, shopping centers and schools. Catalyst plans to invest $4.5 million in renovations, which will include curing deferred maintenance, new signage, landscaping, updating unit interiors and pool upgrades across all three properties.
“We have seen what we can do in Dallas and Fort Worth so we are excited for the opportunity to expand into the San Antonio market and continue to grow the Catalyst Multifamily Management system” added Sherry Johnson, vice president of operations. “The market here is strong and we just had a very successful career fair here to staff Ashler Oaks, Sierra Royale and Veranda, and are proud of the training processes we implemented leading up to takeover day”.
Image courtesy of Ashler Oaks Apartments