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29SC Acquires San Antonio’s Renata on Fredericksburg Apartments Multifamily Deal is Firm’s 3rd in Metro Area
San Antonio (February 2024) – Privately-held real estate investment firm 29th Street Capital (29SC) has successfully acquired Renata on Fredericksburg Apartments, a significant milestone as it represents the firm’s third multifamily acquisition in the San Antonio, Texas market. Notably, this acquisition aligns with. 29SC's proactive strategy to cultivate a robust portfolio in Central Texas, underscoring the firm's commitment to strategic growth and investment in San Antonio, Austin, and Interstate 35 corridor.
Built in 1986, Renata on Fredericksburg is a Class B, 288-unit asset located in the Medical Center/USAA submarket. As part of 29SC's comprehensive capital improvement plan, the firm intends to revitalize unit interiors, incorporating stainless steel appliances, wood plank flooring, washers and dryers, and modernizing kitchens and bathrooms. Additionally, enhancements are planned for the fitness center, pool, dog park, and the overall aesthetic appeal of the property.
“We believe this project provides our investors an exceptional opportunity to participate in a discounted value-add asset in a job-centric location,” said Dan Howard, 29SC’s Senior Vice President of Acquisitions based in Austin. “This property is in the heart of the richest employment hub in San Antonio with 116,000 daytime employees within a three-mile radius.”
Renata is located at 9939 Fredericksburg Road, approximately 15 minutes from downtown and a 10-minute drive to the San Antonio International Airport. Situated nearby Interstate 10, Renata allows easy access to all San Antonio has to offer.
“San Antonio continues to be one of the nation’s fastest growing metros in the country, expanding at the third-fastest clip in the nation” said Alex Sampson, 29SC’s Vice President of Acquisitions based in San Antonio. “Within 10 minutes, residents can drive to La Canera and The Rim, a hub of shopping, dining, and entertainment,” Sampson added.
Formed in 2009, 29th Street Capital is a privately held real estate investment with 16 offices nationwide. Its current portfolio consists of more than 15,000 existing units and a development pipeline of over 3,500 units. In the last year, 29SC has acquired over 18 multifamily assets across the United States that contain over 5,000 units. The firm continues to actively pursue new opportunities. Learn more about 29th Street at 29SC.com
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