Hilltop Residential Acquires a 256 Unit Apartment Property in San Antonio, Texas
HOUSTON – Hilltop Residential (“Hilltop”), a Houston-based multifamily real estate investment company, announced today that it has acquired Whispering Creek Villas, a 256-unit apartment property in San Antonio, Texas. Hilltop plans to improve on the quality the property by implementing a renovation program that includes upgrades to unit interiors and amenity areas.
The subject property was built in 1995 and at the time of construction was a “best-in-class” asset. The subject property is located within the South Texas Medical Center in northwest San Antonio. The South Texas Medical Center is home to more than 75 medically related institutions, 45 medical clinics, 12 major hospitals, The University of Texas Health Science Center, and dozens of private practices, offices and non-medical businesses covering a 900-acre site in northwest San Antonio. More than 27,000 employees in the medical field and approximately 29,000 non-medical-related employees work in the South Texas Medical Center. The property features many desirable amenities including a resort style pool with grills, a fitness center, a business center, ample green space and a dog park.
“We are excited about entering the San Antonio market by adding Whispering Creek to our growing portfolio,” said Greg Finch, president of Hilltop Residential. “This is another excellent off-market opportunity that we can enhance through interior and exterior renovations. We are thoroughly excited about Whispering Creek’s spectacular location in the South Texas Medical Center and are confident that we will be able to maximize cashflow and provide attractive returns for our investors.”
Hilltop Residential was formed early in 2017 to acquire and renovate multi-family real estate assets that have strong market potential in Texas and the southern U.S. The company invests in cities and neighborhoods with strong demographics and positive employment growth. Target properties are well located, built in 1990 or later, that can be repositioned to enhance returns to investors.
About Hilltop Residential
Headquartered in Houston, Hilltop Residential provides investors with tax-deferred income and capital appreciation by acquiring and renovating multi-family properties located in the southern United States. Hilltop invests in cities and neighborhoods with strong demographics and positive employment growth. For more information, visit www.livehilltop.com.