MC Companies Closes Deal in San Antonio, Texas, With Shadow Valley Apartments

SCOTTSDALE, Ariz., Nov. 8, 2011 /PRNewswire/ -- MC Companies' acquisition of Shadow Valley Apartments apartment community in San Antonio, Texas, adds 250 units to the company's ownership portfolio. MC Residential will manage the community.  The company plans to make capital improvements enhancing its competitive edge in the market and adding value for residents.  

About the Deal

• 250 one and two bedroom units, Class B, two and three-story garden style buildings
• Financing provided by Fannie Mae loan through Wells Fargo Multi-Family Capital
• Occupied at 94% at close of escrow

MC Companies seeks properties where improved financial performance can be achieved through streamlined management practices and property improvements and upgrades. One-hundred units have already been upgraded and are achieving higher effective rents than the non-upgraded units. MC has plans to upgrade the remaining units with new appliances, fixtures, flooring, etc. to take advantage of the proven value-add opportunity.  The company plans to make various exterior improvements to the community.  

The community will be renamed The Place at Shadow Valley in keeping with the company's branding strategy, capitalizing on the existing name recognition, while giving the community a freshness.

About the Property

The Place at Shadow Valley has an ideal northwest San Antonio location situated between Westover Hills and the Southwest Texas Medical Center on 12 acres in Leon Valley and is near schools, shopping and entertainment. The 12-acre community is located at 5650 Grissom Road, in Leon Valley and is near school, shopping and area entertainment. With easy access to Highway 410 and several of the area's major employers are minutes away including USAA, UTSA and the SW TX Medical Center.  Sporting venues, entertainment and restaurants are nearby.  

The gated community has a pool, fitness center, sports court, tennis court, playground, laundry room, BBQ grills, clubhouse with Wi-Fi and a dog park.  Five floor plans feature one bedroom/one bathroom or two bedroom/two bathrooms. Units have vaulted ceilings, and walk-in closets. For more information about The Place at Shadow Valley, please visit www.mccompanies.com.

MC Companies continues to focus on workforce housing: garden style apartments that meet its asset requirements in all primary, secondary and tertiary markets in the southwestern and northwestern United States. The company plans to acquire more than 2,000 units in the next 12 months. 

MC Companies seeks land acquisitions and 200+ units in select markets. Contact Ryan Francisco at [email protected].

About MC Companies

MC Companies is a full-service real estate management, investment, development, and construction company that since 1985 has developed, built and managed multi-family housing communities. MC Companies is headquartered in Arizona, with corporate offices in Scottsdale and Tucson; and Arlington, Texas. The current portfolio includes units in Arizona, Nevada, Oregon, Oklahoma and Texas.  For more information visit: www.mccompanies.com or www.mcresidential.com.

SOURCE MC Companies