Presidium Group Acquires Sentinel Pointe in San Antonio, Quarters in Dallas
- Jul 04, 2014
Presidium Group LLC continued its series of investments in the state of Texas with the recent acquisition of two additional residential communities in the state of Texas: Sentinel Pointe, a 91-unit apartment complex located in midtown San Antonio, and Quarters, a 208-unit property in Dallas.
Both multifamily communities will undergo interior and exterior renovations, including new unit fixtures, plumbing, lighting fixtures and appliances, and a new color scheme. The exterior upgrades will consist of improvements to the buildings, the amenities and common areas, and the leasing center. Additionally, both will be rebranded, and Quarters will get new signage and new Hardie siding and paint.
“This acquisition is ideally positioned to take advantage of the current transformation in midtown San Antonio,” said Presidium co-CEO Cross Moceri about Sentinel Pointe. “With our planned value-add renovations, the property has tremendous upside potential.”
Sentinel Pointe is located in one of San Antonio’s prosperous submarkets, with significant growth over the past three years. Its position close to the Pearl Brewery development’s new restaurants, retail centers, farmers market and culinary school makes it convenient for residents. Entertainment and relaxation areas are also nearby, including San Antonio’s Childrem Museum, Brackenridge Park and the River Walk, with two major universities completing the scene: University of the Incarnate Word and Trinity University.
In addition, “Quarters is a well-located asset that nicely complements our multifamily portfolio in the Dallas area,” said Presidium co-CEO John Griggs. “The property has tremendous upside potential, and with value-add renovations we can reposition the asset within its submarket.”
Quarters is located in the north submarket of Dallas, easily accessible from the Northwest Highway and U.S. Highway 75. The neighboring area offers a retail scene and a growing restaurant. The community’s amenities feature a swimming pool, laundry facilities, a clubhouse and a business center.