SAN ANTONIO, TX - Catalyst Multifamily Management, headquartered in Denver, Colorado and very active in Dallas / Fort Worth, Texas, is expanding into the San Antonio market. On May 25th, Catalyst took over the property management responsibilities of three properties in San Antonio, totaling 390 units - Ashler Oaks Apartments, at 4100 Parkdale St built in 1971 and 150 units, Sierra Royale Apartment Homes at 6300 Rue Marielyne built in 1984 and 108 units, and Veranda Apartments at 7918 Jones Maltsburger Rd built in 1972 and 132 units. Takeover day went smoothly with the implementation of a new staff at the properties.
Catalyst Multifamily specializes in B and C class multifamily property management and is especially strong with distressed and value add deals.
All three properties are in great locations with easy access onto major highways, grocery stores and schools. Catalyst has an aggressive hands on approach with all properties in their portfolio and the team will immediately begin their proven methods for turning around these assets. Initiatives include traditional and grassroots marketing efforts targeting their desired tenants and a $4.5 MM renovation that will include curing deferred maintenance, new signage, landscaping, updating unit interiors, and pool upgrades across all three properties.
Cathy Finn, Vice-president and Managing Principal of Catalyst Multifamily Management, decided to take on the opportunity to turn this C+ asset around. “These properties should be B class deals. Our goal at Catalyst is to take on properties that have high potential and a need for strong, well thought out and aggressive management plans. Our property owners always see an immediate improvement in NOI, occupancy, quality of their assets and residents. We push rents to their maximum level while maintaining strong occupancy. Pushing value is what we do. Typically our rents set the market.”
“We have seen what we can do in Dallas and Fort Worth so we are excited for the opportunity to expand into the San Antonio market and continue to grow the Catalyst Multifamily Management system” says Sherry Johnson, Vice President of Operations. “The market here is strong and we just had a very successful career fair here to staff Ashler Oaks, Sierra Royale, and Veranda and are proud of the training processes we implemented leading up to takeover day”.
Catalyst Multifamily Management, a subsidiary of MBP Capital, Inc. of Denver, Colorado and Dallas, Texas, has been owning and operating multifamily properties in the Dallas/ Fort Worth Metroplex since 2006 and will continue to actively acquire new properties into their management portfolio.