DJE Texas Management Group has closed on the purchase of The Avalon and The Verandah Apartments and will deploy $3.6M+ in value-add renovations to improve the lives of residents and the community.
SAN ANTONIO, October 19, 2023 (Newswire.com)
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DJE Texas Management Group (DJE), a vertically integrated real estate investment and management company based in San Antonio, Texas, has announced the acquisition of The Avalon and The Verandah Apartments, two contiguous multifamily properties totaling 292 units in San Marcos, Texas.
DJE’s in-house property management team will manage the assets and execute a value-add business plan that includes property renovations, operational improvements and rebranding the properties as “The 1856 Apartments,” as a nod to an important year in the formation of Texas State University.
The organization has invested in over 5,200 apartment units since 2012, and adding the two properties marks the firm’s 19th and 20th multifamily acquisitions (respectively). The acquisition represents a significant milestone for DJE as it continues to strengthen its presence in new real estate investment markets in Central Texas.
Devin Elder, Founder and CEO of DJE Texas Management Group, is excited about this project as he works diligently with his onsite team as the project gets underway.
Elder states, “We are thrilled to expand our footprint into the thriving San Marcos real estate market by adding these two properties to our portfolio. These acquisitions represent a strategic move for our firm, allowing us to reinvigorate the assets and offer exceptional living experiences to residents while continuing to offer attractive investment opportunities to our partners.“
For interviews and additional information, please contact DJE Texas Management Group at (210) 510-1275 or admin@djetexas.com.
About Devin Elder and DJE Texas Management Group
Devin Elder is the Founder & CEO of DJE Texas Management Group, a vertically integrated multifamily investment firm based in San Antonio, Texas. Since 2012, the firm has completed hundreds of successful investment projects, including many full-cycle multifamily investments, and Devin has been a Principal in over 5,200 doors of multifamily. Devin is also a Helicopter Pilot, a Podcast host, and the owner of a Real Estate consulting firm, a brokerage, and the DJE Foundation, a 501(c)(3) non-profit supporting disadvantaged children in Texas and the Philippines.
Source: DJE Texas Management Group