DJE Texas Management Group acquired its fourth value-add property in San Antonio. The local multifamily investment firm acquired the 106-unit Terrace Apartments from JBT Investments LLC. The sales price was not disclosed, with Bexar County valuing the asset at $4 million.

Terrace Apartments is situated on 5.3 acres at 11300 Roszell St. in the northeast part of the city. The property came online in 1974, and offers one, two and three-bedroom units, a pool, two laundry facilities, a playground, gated access and a business center.

DJE will renovate and update unit interiors, address deferred maintenance and hire a management team. The new owner also plans to rebrand the property. The Terrace’s acquisition means DJE owns 407 units throughout San Antonio; the buyer said it has more closings planned in April 2018.

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