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Friday, Dec 8, 2023

Woodland Hills Firm Adds 200 Apartments to Texas Holdings

Real estate investment and management firm Investors Management Group has purchased a 200-unit multifamily property in Texas.The Heights at Converse, located at 7855 Kitty Hawk Drive in the municipality of Converse, was acquired by the Warner Center firm for an unspecified price.The asset consists of eight buildings of one- and two-bedroom apartments, plus a  clubhouse, ballpark, fitness center, swimming pool and other amenities.With this transaction, IMG now owns four properties in the San Antonio market.The firm has spent $322 million on assets in the Sun Belt region in this year alone, with units in Texas, Georgia and North Carolina.“We continue to be attracted to properties along I-35 Austin/San Antonio corridor because of its growth in population, jobs and income,” said IMG Chief Executive Neil Schimmel in a statement. “It’s a fantastic real estate story.”

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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