Avesta Icon Apartments

Opportunity Overview

• Gomel Capital Partners (“Gomel” or the “Sponsor”) is under contract to purchase the Avesta ICON Apartments (the “Property”) located in far north central San Antonio, TX. It is comprised of 256 units and 170,624 square feet, with an average unit size of 667 square feet.
• The transaction was procured through our experience and local reputation in the Texas markets.
• The Seller is a very large apartment owner, operating in six states. Their property level operating expenses are above average.
• The Sponsor intends to reduce operating expenses to market while continuing the Seller’s strategy of light unit upgrades to increase income.

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