Disrupt Equity, a leading multifamily real estate investment company, in partnership with Open Door Capital, announced the closing of San Antonio property – The Hill at Woodway.
The Hill at Woodway property consists of 248 B+ units located in a highly sought-after San Antonio area near major employment hubs such as USAA’s corporate headquarters and The South Texas Medical Center. This closing has resulted in Disrupt Equity growing its portfolio Assets Under Management (AUM) to over $800M.
“The Hill at Woodway offers a remarkable investment opportunity, with its unit prices priced $300+ lower than similar properties. This presents a significant value-add potential, allowing for further enhancements and improved operations that will ultimately enhance the Net Operating Income (NOI),” said Feras Moussa, Managing Director at Disrupt Equity
The Hill at Woodway boasts an enviable location that ensures residents’ effortless access to major employment and entertainment hubs. Situated less than a mile away from the USAA headquarters, residents enjoy proximity to a staggering 19k job opportunities. Furthermore, for those involved in the thriving bioscience industry, UTSA, and the South Texas Medical Center lie within a 2-3 mile radius, playing an integral role in the sector’s remarkable growth, generating over 41k jobs in the past decade alone.
“The property benefits from its high-quality community and central location, making it attractive to many residents. Consequently, the property has remained stable, with an impressive 95% occupancy rate. In today’s market, this stabilized, value-add property stands out for its upside potential,” said Ben Suttles, Managing Partner at Disrupt Equity.
San Antonio has also become a haven for corporate and residential relocations. As the local economy continues to diversify, major companies like Toyota, Caterpillar, Microsoft, and Citibank have established significant presence in the city, providing lucrative employment opportunities for locals.
In 2022, San Antonio’s rental prices increased by 7%, according to Culture Map, reflecting a growing demand for housing in the city. At the same time, the city’s gross domestic product (GDP) is projected to grow by 1.4% this year, which is the fifth-highest expected urban economic growth rate in the nation, according to the San Antonio Current.
Disrupt Management, an in-house multifamily property management firm of Disrupt Equity, will handle these assets. They currently manage over 7000 units in the Austin, Dallas, Houston, and San Antonio markets.