San Antonio, Texas
The Sofia Apartments is a 111 unit apartment complex located adjacent to Alamo Heights in Central San Antonio. The property has been self-managed for 9 years and offers significant management and repositioning opportunities. The average unit size is 988 square feet and over 60% of the units are 2 bedroom units. The business plan will include re-branding, enhancing the property’s curb appeal, interior unit renovations, LED lighting to reduce utilities, institute utility reimbursement program, and implementing professional property management. The property was not actively marketed for sale. This under-managed asset was acquired with our high net worth investor base and bridge financing by Ladder Capital. Sterling Management Company is now the property management company for this apartment complex.