Legacy, DB Nab Salado Creek Due to COVID Performance Upswing

Cleveland-based Legacy Capital Partners and Los Angeles-based DB Capital Management recently acquired Summit at Salado Creek, a 1997-vintage 352-unit apartment community in San Antonio, according to Legacy. The firms acquired Salado Creek as part of a value-add strategy and plan to increase value through the execution of the property’s interior renovations to a class-A finish, as well as planned upgrades to common areas and exteriors to improve the quality of the overall community for its residents.

The San Antonio metro population has grown nearly 20 percent between the 2010 to 2020 census and is projected to continue its robust growth. The property is in a strong infill submarket with limited new development and proximity to major employers including USAA, the South Texas Medical Center and Valero.

“We’re thrilled to acquire Salado Creek, which has performed well through the pandemic, and to continue enhancing resident experience through our business plan. This is Legacy’s first joint venture with DB Capital Management, and we look forward to growing the partnership,” said David St. Pierre, managing director at Legacy.

The purchase price of Salado Creek was undisclosed.