Rincon Partners, LLC (“Rincon”) is pleased to announce the acquisition of the Finley Apartments f/k/a The Place at Shadow Valley (the “Property”) in San Antonio, TX on December 21, 2018 for $19.4 million. The Property is a 250-unit, class B, multi-family apartment community constructed in 1989. Rincon’s investment plan is to upgrade the Property’s community amenities including the clubhouse and pool area, and renovate the unit interiors.
The Property is located within the Leon Valley submarket of the San Antonio MSA, one of the top performing submarkets in the MSA. The Property is located near numerous employers including the South Texas Medical Center and the USAA corporate campus and is easily accessible to the San Antonio International Airport.
Rincon is headquartered in Phoenix, AZ with an office in Atlanta, GA and targets opportunistic and value add multi-family and self-storage commercial real estate in the Southwest and Southeast United States.
For further information on new acquisitions and joint venture opportunities, please contact Jason Ottman, Chief Investment Officer, in our Phoenix, AZ office at (480) 378-2959 or Carson Hammer, Director of Acquisitions, in our Atlanta, GA office at (480) 378-3070.