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San Antonio: ValCap Group buys two affordable housing propertiesSan Antonio: ValCap Group buys two affordable housing propertieshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=114842015-12-14T06:00:00Z

​SAN ANTONIO - The ValCap Group LLC has closed on two affordable housing properties in Northwest San Antonio.

The locally based private equity real estate investment firm bought the 224-unit Fredericksburg Place at 3401 Fredericksburg Rd. and the 200-unit Vista Meadows at 1100 Callaghan Rd. from the nonprofit San Antonio Alternative Housing Corporation, which developed the properties in 1983.

Along with putting in an additional $2 million for remodeling and improvements, ValCap will be paying property tax the county had previously never benefitted from.

The new for-profit owner is looking to bring rents for one-bedroom units in the garden-style apartment complexes up to about $625 per month from their current $500 per month level.
San Antonio Business Journal
San Antonio-New Braunfels
Multifamily
http://www.bizjournals.com/sanantonio/news/2015/12/10/valcap-group-closes-on-two-nw-san-antonio.htmlRead more at the {Source}

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