Exeter Place is a 248-unit Class A luxury apartment community developed on an 18-acre site in far West San Antonio. Construction started in early 2019 and was completed in 2020. The unit mix provided one-, two-, and three-bedroom units with an average size of 925 square feet. The property featured high-end unit finishes and smart home features, multiple outdoor recreation areas, and a resort-inspired pool.
The business plan was to acquire the land, develop and construct the project, achieve stabilized operations, and subsequently sell the project in a five-year timeframe. Presario Ventures exited the project in May 2021, earning Limited Partners a return exceeding the proforma.
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San Antonio, Texas