Sevona Westover Hills Community Acquired by Steel Castle Property Partners
- Nov 12, 2013
By Anca Gagiuc, Associate Editor
Renowned real estate investment vehicle Steel Castle Property Partners announced the acquisition of a Class A multifamily property in San Antonio’s distinguished Westover Hills community. The transaction was performed through Steel Castle Capital L.L.C., a boutique real estate investment management firm with offices on both coasts.
Sevona Westover Hills is located wonderfully in the nearness of State Highway 51 (Raymond E. Stotzer Jr. Freeway) with Loop 1604 (Charles W. Anderson Loop) and the Christus Santa Rosa Westover Medical Center. The Sea World San Antonio and the Hyatt Hill Country Resort and Spa are also part of the surrounding environment.
“During the due diligence phase of the transaction, we learned that the U.S. Department of Defense invested a great deal in the area’s technology infrastructure,” said Bob Cooney, managing principal at Steel Castle Capital, in a press release. “This high-speed fiber access, in turn, attracted many large employers. In addition to the medical center and Sea World, Wells Fargo, Chase, Microsoft, Nationwide and other well-known corporations all have job centers within a short drive of the property.”
The community was built recently, with an eco-friendly focus and luxurious living space, in Texas’ hillside area. It offers 296 units in eight floor plans. Amenities include a 5,000–square-foot clubhouse designed after a historic Texas farmhouse from the 1800s, a cutting-edge fitness center and a resort-style swimming pool. The units have private balconies, expansive nine-foot-high ceilings, crown moldings, generous walk-in closets and ceiling fans. Tenants have the option to choose from designer interior color schemes.
“Sevona Westover Hills is already enjoying strong occupancy,” reported Craig Reed, managing principal at Steel Castle Capital. “It’s a Class A property in a Class A suburban community, and we’re very excited to have it in the Steel Castle Property Partners portfolio.”
Photo courtesy of Steel Castle Capital.