Avesta Communities announced today that it has completed its acquisition of the former Rockport Landing apartment complex located in San Antonio, TX. The community, renamed ICON Apartments, consists of 256 apartment homes across 6 different floor plans. ICON features a dog park, swimming pool, and washer/dryer connections in most homes.
ICON Apartments, located in the north central submarket, boasts being Avesta’s first acquisition in San Antonio. The community is poised for success with its location only minutes from several major employers such as the South Texas Medical Center and USAA.
Ryan Reyes, Project Director, notes, “We are proud to represent Avesta’s first stake in the San Antonio multifamily marketplace. As with any new market, we know we are going to have to put our boots on and jump right in. We plan on really grabbing this community by the horns and immediately implementing capital renovations to make ICON the beacon of abundant living.”
The multifamily owner-operator plans to implement a long-term capital improvement strategy with interior and exterior renovations.
About Avesta Communities
Avesta is a rapidly-growing apartment investment and management firm based in Tampa, Florida. Since its founding in 2010, Avesta has acquired nearly 8,500 apartments throughout the Southeast, and has assembled a 200-employee team drawn from the best companies worldwide. Avesta’s business model is to apply industry best practices to properties that historically under-served, middle-income renters call “home.” Avesta’s mission is to give people a home where they can live abundantly and create more community in the world. By striving to be the world’s most resident-focused company, Avesta creates lasting value and serves each of its stakeholders: employees, capital partners, vendors, communities, and most importantly, its residents.