Windsor House Apartments Changes Hands

The asset presents significant value add opportunities.
Windsor House Apartments, San Antonio

Windsor House Apartments, San Antonio

San Antonio—H.I.G. Capital of Miami announced that its affiliate, H.I.G Realty Partners, has acquired Windsor House Apartments, a 322-unit apartment community located in San Antonio.

Details about the transaction were undisclosed. According to Yardi Matrix data, previous owner Presidium Group acquired the property in October 2016 from Ed White & Associates for roughly $34.7 million or $107,660 per unit. The purchase was facilitate through a seven-year, $26 million loan held by Freddie Mac.

“Windsor House presents an opportunity to create value through an extensive upgrade program in a market that has seen a considerable increase in demand in recent years,” Ira Weidhorn, managing director of H.I.G. Realty, said in a prepared statement.

Built in 1997, Windsor House Apartments is a 17-building property located in Northern San Antonio at 12222 Vance Jackson Road, in close proximity to the 900-acre South Texas Medical Center. The unit mix offers one- to three-bedroom floor plans ranging in size from 697 square feet to 1,433 square feet. Community amenities feature a fitness center, business center, clubhouse, swimming pool, spa and covered parking. Unit amenities include vaulted ceilings, washer and dryer connections in all units and private balconies/patios.

Images courtesy of Presidium