IMG Expands Its Texas Portfolio to 1,300 Units

 

Karlin Conklin

Neil Schimmel

San Antonio, TX –– Investors Management Group (“IMG”), a West Coast-based real estate investment and asset management firm, has closed the acquisition of Hardy Oak, a 312-unit apartment community in San Antonio, for an undisclosed price.

 Located at 23975 Hardy Oak Blvd, the gated property consists of 13 buildings constructed in 2020.

The luxury community offers a mix of one, two, and three-bedroom floor plans ranging from 791 to 1,446 square feet.

Charlie Mentzer 

A modern-contemporary design clubhouse and coworking center, resort-style pool, outdoor kitchen, and walking trails highlight the resident amenities.

IMG has transacted a total of $484 million in Sun Belt assets in 2021. Hardy Oak represents IMG’s 5th acquisition in North San Antonio since September 2020. 

 According to Principal & Co-President Karlin Conklin, "Austin's expanding tech industry has turbocharged investor interest in the Austin-San Antonio corridor."

Will Balthrope 

She notes that IMG's recent San Antonio acquisitions reflect nearly $100 million in private equity coming from over 450 accredited investors across the U.S.

“San Antonio is becoming a tech hub in its own right. It's attracting high-earning transplants. The uptick in luxury multifamily development reflects that shift," adds CEO Neil Schimmel. "The population surge in this area is among the most notable growth stories in the country."

San Antonio has joined Austin, Houston, and Dallas on the leaderboard for fastest-growing large metros, with the latest U.S. Census reporting San Antonio's 2010-2020 growth at 19.4%. 

Drew Garza 

Freddie Mac financing for the Hardy Oak acquisition was secured through Charlie Mentzer at Capital One. Will Balthrope and Drew Garza of Institutional Property Advisors (IPA) served as brokers in the transaction. 

 ABOUT IMG

Investors Management Group, Inc. is a real estate sponsor and asset manager focused on multifamily assets across a national platform. IMG specializes in improving and managing apartment communities to enhance the resident living experience and maximize value for investors. 

The firm has transacted over 10,000 apartment units ($1.3 billion) nationally since 2010.

Contact:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

Jordan Angel and Will Connors tapped to co-lead and build out a Silicon Valley-based JLL capital markets team

Jordan Angel

MENLO PARK, CA– JLL Capital Markets is officially opening a Silicon Valley Capital Markets office on January 1, 2022, and has appointed Senior Managing Directors Jordan Angel and Will Connors as office co-heads.

 JLL’s Capital Markets group has a long history of success in Silicon Valley, having completed some of the most prominent trades, financings and capitalizations in the area in the last few years, including America’s Center, Ameswell, Brittan West and Gateway at Millbrae Station.

They are currently marketing nearly 20 Silicon Valley assets across all property types led by the tech and life sciences sectors.

Will Connors

“Silicon Valley is the technological innovation and capital center of the world and JLL is furthering its commitment to the market and the vast opportunities within it,” Connors said.

“The opening of the capital markets office in Silicon Valley will position JLL as one of the only commercial real estate firms with a full suite of services for our clients.”

 

Connors has been with JLL since 2013 and will lead the office’s investment sales and advisory platform. He has completed more than $5 billion in Silicon Valley transactions and, throughout the course of his more than 23-year career in commercial real estate, he’s specialized in office, life sciences and industrial investment sales transactions.

  For more news, videos and research resources on JLL, please visit our newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.  

 
 Contact:

 Kimberly Steele 

JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

Meta Housing Celebrates Completion of Arboleda Senior Apartments in La Puente, CA

Hilda L. Solis

 

La Puente, CA – On November 9, 2021, Meta Housing Corporation, Western Community Housing, Inc., and the City of La Puente celebrated the grand opening of Arboleda Senior Apartments, an affordable 74-unit multifamily community for adults aged 62 years and older.

 

Arboleda Senior Apartments is located at 1040 N. Unruh Avenue, La Puente, California 91744. For more information on available units, call (626) 423-6695.  

 

This new construction development offers spacious one- and two-bedroom units with rents ranging from 40% to 70% below market rate, providing safe and affordable housing for a vulnerable population that often live on fixed incomes.

 

“This project is in line with my continued commitment to prevent homelessness in the County of Los Angeles,” said Los Angeles County Board of Supervisors Chair Hilda L. Solis, Supervisor to the First District.

 

 “This development will offer many older adults a vibrant, livable community with easy access to critical community services.”  

Emilio Salas

“The Arboleda Senior Apartments housing development exemplifies local, public, and private entities partnering to execute the steps necessary to address affordable housing shortages and effect real, positive change,” says Emilio Salas, LACDA Executive Director.

 

 “Communities thrive when everyone feels safe and secure with their housing situation, and together, we can ensure everyone has a place to call home.”  

 

Meta Housing partnered with Bank of America, California Community Reinvestment Corporation, Los Angeles County Development Authority, and the California Tax Credit Allocation Committee to finance the project.  

 

 Contact:

 

Anthea Davis  

The Smart Agency 

949.438.6263

andavis@thesmartagency.com

www.metahousing.com.