The Villas of Henderson Pass was a 228-unit, Class B multifamily community located in the North Central San Antonio submarket of San Antonio, Texas. Acquired in September 2016 and successfully sold in May 2022, this investment represents a fully realized exit in Apta’s multifamily portfolio, delivered through our strategic partnership with 37th Parallel Properties.
The property was ideally positioned along major commuter corridors, with convenient access to Highway 281 and Loop 1604 and immediate proximity to the Northwoods and Stone Oak retail and dining districts. This combination of location quality and commuter accessibility made the asset a consistent performer throughout the hold period, attracting and retaining a quality renter base across the full six-year investment horizon.
San Antonio is one of the most consistently growing large cities in the United States, supported by military, healthcare, tourism, and a diversifying technology employment base. The North Central submarket specifically benefited from its proximity to major employment nodes and retail corridors that made it one of the most desirable rental locations in the metro, providing the demand foundation that supported occupancy and rent growth across the hold period.
The investment was executed with the disciplined approach that defines 37th Parallel’s operating model: acquiring a quality asset in a strong submarket, implementing a focused operational and capital improvement program, and executing a well-timed disposition at the conclusion of the business plan. The May 2022 sale successfully closed the investment and returned capital to investors.
Multifamily investments offered through our strategic partnership with 37th Parallel Properties.
