San Antonio, TX, US, Americas

PICO Portfolio

Portfolio description

JLL has been exclusively retained to offer qualified investors the unique opportunity to purchase fee-simple interest in the PICO Portfolio, which consists of five assets spanning South San Antonio and totaling 772 units. The properties included are Westwood Plaza (1960), Roselawn (1974), Winston Square (1972), Spanish Spur (1974), and Villas of Pecan Manor (1976). Investors are presented the opportunity to submit offers on all five assets, individual assets, or a combination. All offers will be evaluated to achieve the best comprehensive outcome to sell all five properties.

The PICO Portfolio is located south of downtown San Antonio, within close proximity to the city’s top economic drivers, including Lackland Air Force Base, Port San Antonio, JCB Manufacturing Plant, Toyota Manufacturing Plant, the VIDA mixed-used development, and Brooks City Base. South San Antonio's diverse demographics include a mix of working professionals, families, and retirees, bolstering the long-term demand and stability of area.

The portfolio consists of older vintage properties offering an attractive opportunity to enhance value through renovations and updates. A new operator has the ability to implement a comprehensive value-add plan, focusing on exterior renovations, unit upgrades, and operational enhancements to maximize revenue generation and increase overall portfolio value

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Attributes

Units

772

Building class

Class C

Building area net

595,773 sf

PICO Portfolio (5 Properties)

Media

Investment highlights

Nearly Untouched Value-Add Opportunity

Workforce Housing that Neighbors Growing Economic Drivers

Westwood Plaza: Across the street from Lackland Air Force Base, which employs 24,000+ active-duty members, 10,000+ Department of Defense civilians, and 11,000+ government contractors.
Winston Square & Roselawn: Borders Port San Antonio, which employs 18,000+, and is expected to double its employment headcount in less than 10 years.
Spanish Spur & Villas of Pecan Manor: Less than a mile from Brooks City Base, a 1,308-acre mixed-use campus home to 5,300 employees, 1,650+ Class-A rental units, and the 43-acre Greenline Park.

772-Unit Portfolio Offers Economies of Scale