CS1031 Canopy Apartments, DST

Location: 950 Bitters Road East, San Antonio, Texas 78216

Investment Cost: $20,525,000

Equity Raise: $8,825,000

  • Fixed Interest Rate: 3.73%
  • Offering Loan To Value: 57%
  • First Year Cash On Cash Return: 5.65%

The Canopy is located in a neighborhood with excellent access to the San Antonio International Airport (1) and an abundance of nearby employment, medical services, shopping, houses of worship and schools.

Bitters Road East, San Antonio, Texas

The Canopy is located in north quadrant of San Antonio and is easily accessible by four major highways. The area includes a complementary mix of residential, commercial, and industrial development, generally constructed within the past five to 25 years.

INVESTMENT HIGHLIGHTS

  • Visible and Easily Accessible Community: Excellent drive-by visibility along Highway 281 and Bitters Road in North Central San Antonio. The property is accessible via a lighted intersection on Bitters Road and Highway 281 access road. More than 20,000 vehicles per day travel along Bitters Road in the immediate area.
  • Well-Maintained Asset with Recent Capital Improvements: Approximately $2.8 million in capital improvements have been completed since August 2012, including landscape additions, leasing office improvements and interior upgrades.
  • High Occupancy Level: Approximately 97 percent leased as of June 16, 2016, compared to a market occupancy of 93.9 percent.
  • Expansive Amenity Package: Includes a fully renovated clubhouse, computer stations, coffee bar, two swimming pools, coin-operated laundry facilities, fitness center, pet park and picnic area with barbeque grills.
  • Value-Add Opportunity: Value-add potential with upgraded units generating up to $120 monthly premiums. Potential for rent growth with further unit
    upgrades.

PROPERTY DETAILS

  • UNITS: 220
  • BUILDINGS: 13 two- and threestory residential buildings
  • Clubhouse: with fitness and business centers
  • PERCENTAGE LEASED: 97% vs. 93.97% average for metro area*
  • LOT SIZE: 8.6 acres
  • DENSITY: 25.6 units per acre
  • PARKING: 272 spaces

LOCATION HIGHLIGHTS

Excellent Location Surrounded by Major Employment Drivers:

The Canopy is located in a neighborhood with excellent access to the San Antonio International Airport (1) and an abundance of nearby employment, medical services, shopping, houses of worship and schools. Significant employment centers nearby include Valero Services (2), USAA Insurance (3), the University of Texas San Antonio (4) and the South Texas Medical Center (5). The property also benefits from the significant concentration of medical services related jobs surrounding the community from every direction.

Strategic Access to Major Retail Centers and Public Parks:

Residents of The Canopy have access to many shopping centers located at major intersections of San Antonio, including those concentrated along Interstate 10, Huebner Road, Wurzbach Parkway and Loop 1604. The property is within a quarter mile of Starbucks, Target, Home Depot and Office Depot. Also nearby is the 1.2 million-square-foot North Star Mall (6) and trendy Park North (7) retail center, complete with more than 15 restaurant and bar options. McAllister Park (8), located just one mile east of the property, is a public park with sports fields, dog parks, and numerous jogging trails spread over 900 acres of wooded land.

Spectacular Location
The Canopy is located in north quadrant of San Antonio and is easily accessible by four major highways. The area includes a complementary mix of residential, commercial, and industrial development, generally constructed within the past five to 25 years. Area demographic projections call for a fairly stable population with steady growth in total population over the next five years.

About The Property Manager

  • Manages more than 200 properties comprised of 60,000+ units in 21 states
  • Manages seven apartment communities comprised of 1,636 units in San Antonio
  • Local operations office in San Antonio
  • Ranked 11th nationwide on the National Multifamily Housing Council’s list of 50 Largest Apartment Managers for 2016
  • Industry-leading design and development program for value-add projects
  • 1,550 employees
  • Industry-leading design and development program for value-add projects
  • In-house design group comprised of architects, engineers, design professionals and construction project managers
  • More than $300 million in annual revenue
  • Significant buying power – BH Management Services is able to buy products and services at a substantial discount, which equates to lower operating costs for owners

ABOUT CAPITAL SQUARE

Capital Square 1031, LLC specializes in the creation and management of real estate investment programs for Section 1031 exchange investors and other investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive offi cer of Capital Square, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DSTs, tenant-in-common offerings, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.

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