The seller, FSF Four Seasons Associates LP of Larkspur, CA was represented by Gary Hightower, a senior investment adviser in the San Antonio office of Hendricks & Partners, while Mike Miller, also a senior investment adviser, brokered the deal for the buyer, Hewitt Investment Ltd. of San Antonio.
Hightower says the new owner has raised rents to bring them to market level. Rents range from $435 to $540 a month. The Four Seasons is a mix of one-, two- and three-bedroom units although the bulk are two-bedroom apartments. Built in 1972, the Four Seasons has fully equipped kitchens, a pool and playground.
Hightower tells GlobeSt.com that Hewitt, a Waco submarket, is strong in multifamily properties because of its concentration of industrial facilities.
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