StoneRiver Company Continues Growth in Texas With Acquisition of 344-Unit Pecan Springs Multifamily Community in San Antonio

BIRMINGHAM, AL - StoneRiver Company, a multifamily real estate firm based in Birmingham, Alabama, is pleased to announce its acquisition of Pecan Springs, a 344-unit, garden-style apartment community located in San Antonio, Texas. StoneRiver’s in-house property management division, StoneRiver Property Management, is managing the property. StoneRiver re-entered the Texas market in February of this year, with the acquisition of Magnolia Grove Apartments, located in Terrell, Texas. Pecan Springs is the third acquisition in StoneRiver Investment Fund II.

Built in 2013, Pecan Springs features unit interiors and community amenities unlike anything else currently available in the area. Amenities include a resort-style pool with stone features, a swim-up bar, and breezeway access garages. The property’s units feature luxurious interiors with granite countertops and other high-end finishes and amenities.

The property is just minutes from The RIM shopping venue and The Shops at La Cantera, offering retail, dining, and entertainment options to explore. Additionally, the San Antonio Spurs’ new training facility broke ground in November 2021. The 50-acre development called the Human Performance Campus will be located near the Shops at La Cantera and will bring new job opportunities to the area.

“With over 400 corporations headquartered in the San Antonio market, we are confident that Pecan Spring’s location and the area’s strong employment base will help make the property a successful investment for StoneRiver and our investors,” said Joseph Welden, President and Chief Investment Officer of StoneRiver Company.

StoneRiver is currently seeking multifamily acquisition and development opportunities in the Southeast through StoneRiver Investment Fund II, a multifamily real estate investment fund that StoneRiver closed in July 2021.

About StoneRiver Company: StoneRiver Company is a vertically integrated investment firm that acquires, develops, and manages multifamily real estate in the Southeast. Its in-house property management division manages its entire portfolio and drives value through a hands-on approach to operating communities from an owner’s perspective. Founded in 1995, StoneRiver has acquired, developed, or invested in apartment communities across 10 states in the Southeast. For more information, please visit www.stonerivercompany.com

TRENDING

Kerry W. Kirby Named Outstanding Technology Entrepreneur for Shaping The Future of PropTech with Receipt of Noble Award NEW ORLEANS, LA – 365 Connect, the leader in delivering the world's most advanced automated marketing, leasing, and resident engagement platform for multifamily communities across the globe, announced today that its Founder and CEO, Kerry W. Kirby, has received a Noble Award for Outstanding...

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.