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Investor Seeks TX Value-Add Assets

The Three Fountains multifamily asset presented Westmount with the opportunity to acquire a well-positioned value-add property near Westover Hills in San Antonio, a market with job growth and a strong economy.

Three Fountains Three Fountains has 120 one‐bedroom, 120 two‐bedroom and 32 three‐bedroom units.

SAN ANTONIO—With a continued focus on value-add assets, one investor will rebrand a recently acquired property. Three Fountains, a 19-building, 272-unit garden-style multifamily community, is soon to become Westmount at Three Fountains after a recent acquisition by Westmount Realty Capital LLC. Three Fountains was built in 1998 at 7935 Pipers Creek St., and includes 120 one‐bedroom, 120 two‐bedroom and 32 three‐bedroom units.

“Three Fountains presented Westmount with the opportunity to acquire a well-positioned value-add property near the highly desirable neighborhood near Westover Hills in San Antonio,” said Michael Anderson, managing director-acquisitions for Dallas-based Westmount. “With a solid strategy of providing interior unit upgrades, renovating property amenities and improving operational inefficiencies, Westmount believes the market for rent premiums for Three Fountains is favorable.”

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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