Serenity Residences

Investment Details

Location San Antonio, TX
Asset Class C
Acquired Date March 2023
Number of Units 268
Purchase Price $26,500,000

Location

www.serenityresidencestx.com

Acquired alongside Terrain at Medical Center, Serenity Residences—formerly known as “Latitude”—embodies Nord Group’s commitment to revitalizing real estate. In response to prior mismanagement, we initiated a strategic rejuvenation, starting with rebranding the property to regain residents’ trust and implementing several key improvements.

Located near the San Antonio Medical Center, Serenity Residences aims to reposition itself as a renewed Class B- apartment complex. Currently achieving an occupancy rate of 89% with 98% rent collections, the property’s performance is a testament to its growing appeal.

Our interior upgrades include resurfaced countertops, sleek black appliances, fresh paint, modern vinyl flooring, and stylish backsplashes, enhancing the living experience for our residents. Exterior improvements are also underway, featuring a parking lot upgrade, refreshed paint, upgraded amenities, enhanced security with a new gating system, improved landscaping, and a focus on creating an inviting atmosphere.

In addition, we are pioneering a water conservation initiative by updating toilets and faucets, with the goal of halving water costs. With 15 apartments already transformed, we’ve achieved an impressive $160 increase in average rental rates. Serenity Residences is redefining its identity and poised to emerge as a beacon of revitalized living in the thriving San Antonio Medical District.