Investment Drivers

• Unlock embedded Value After 20-Years of Continuous Ownership

  Landera presents a rare opportunity to unlock meaningful embedded value following two decades of continuous ownership and stable operations. While the property has been well maintained; its operating platform, classic unit interiors and community amenities remain largely unchanged. New ownership can capitalize multiple avenues to improve performance through modern asset management, targeted capital improvements, and a scalable interior renovation program.

• Highly Desirable Location

  Landera is strategically located in San Antonio’s desirable North Central submarket near the San Antonio International Airport, which is undergoing a transformative $2.5 billion expansion. The property’s position along Blanco Road provides residents with convenient access to the city’s major employment centers, retail destinations and lifestyle amenities.

• Tremendous Value-Add Potential

  The community’s 184 residences have been well maintained but remain predominantly in classic condition, providing new ownership with a clean and highly scalable interior renovation opportunity. A comprehensive upgrade program is projected to generate rental premiums of approximately $100 per unit per month. Additionally, every residence also includes washer and dryer connections but does not currently provide the appliances. Introducing an appliance rental program offers an additional source of recurring ancillary income with minimal operational complexity.

• Impressive Lease Trade Outs and Loss-To-Lease Upside

  Landera continues to achieve positive lease trade-outs while maintaining strong occupancy. On a weighted-average basis, new leases are being signed $23 above prior leases for the same unit, while occupancy remains above market levels and concessions continue to decline.   

  Beyond it’s leasing momentum, Landera offers a compelling loss-to-lease opportunity. There is a $66 monthly rent gap, between market rent and effective rents, representing approximately 5.7% upside across the property’s 184 units and nearly $146,000 in potential annual revenue growth as existing leases expire and renew at today’s market rents.

• Large Avg. Floorplans

  Landera’s spacious floorplans, averaging 914 square feet, distinguish the property from competing communities with smaller unit configurations. The diverse unit mix appeals to residents seeking additional living space, roommate flexibility and family-friendly layouts—a value proposition reflected in the property’s strong resident retention, with 25% of residents having lived at Landera for more than five years.

• Crashing Supply Wave

  While the broader San Antonio market continues to absorb several years of elevated deliveries, North Central San Antonio is one of the few submarkets experiencing both declining vacancy and positive rent growth. This improving performance is further supported by a limited construction pipeline surrounding Landera:

  • No properties are under construction or proposed within one mile.
  • Only one 305-unit property is under construction within three miles, located outside Loop 1604.
  • Within five miles, only one additional property is underway—a 272-unit office-conversion project.
  • As a 1983-vintage asset located within the highly developed Loop 410 corridor, Landera benefits from significant barriers to new development and minimal risk of nearby supply.

• Limited Availability in Single Family Home Market

  The median home price within 1-mile of Landera apartments was approximately $310,000 in 2025 and has risen to $345,000 in May of 2026. The submarket’s overall listing price has risen to $515,000 with several listings at this value or higher within immediate proximity of the Property.

  Within a 1-mile radius of the property, 43.7% of housing units are renter oriented and supported by only 21% of the population which fall into the growing key renter category of 18-25 years old. Additionally, further rent growth strategies are also supported by a projected 29.5% median household income increase by 2031.

• A Rare Pocket of Rent Growth in an Otherwise Correcting Metro

  Demand-wise San Antonio ranks in the top five nationally for population growth among 20–34 year-olds over the past three years and is projected to rank second among major metros for employment growth in 2026. The combination of durable in-migration, resilient employment base, and a submarket already outperforming on rent is the foundation for a stabilized-income strategy.