Strategy: Multifamily Value Strategy
The Finley is a 250-unit, Class B- apartment complex located in San Antonio, Texas. Centrally located in northwest San Antonio, the property is proximate to many of San Antonio's largest employers including South Texas Medical Center (±56,000 jobs), USAA's corporate headquarters (±19,000 jobs) and Lackland Air Force Base (±37,000 jobs).
The property was constructed in 1984, with most of its units in original condition, except for minor upgrades in select units such as; replacing dated white appliances with black appliances and updating to faux wood flooring in select areas. Rincon's business plan includes renovating all units by adding in-unit washer and dryer, refinishing the kitchen cabinets, installing black kitchen appliances, faux wood flooring, new lighting and plumbing fixtures. Rincon will also update the complex amenities including the pool area, clubhouse and fitness areas to a more modern look and feel.
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