Residential

Current Properties

The Exchange

Purchased in 2022 The Exchange Building is one of San Antonio’s best kept secrets. This property was poorly maintained and horribly managed. Major renovations have already been made and more are ongoing. Occupancy has dramatically increased and the overall vibe is much different than other downtown residential properties. We are finally worthy of being on the Riverwalk. The immediate area is abuzz with three new residential developments coming on line within the next twelve months and a massive hotel renovation across the street. Secured parking is available at the Weston Centre or the St. Mary’s parking garage across the street. Coming soon, Fathead Pizza will be located on the first floor of The Exchange and will cater to residents. It doesn’t get any more urban than The Exchange.

Laguna Shores

Purchased in 2022 Laguna Shores is a one-story bungalow complex located just blocks from the water and is in the highly ranked Flour Bluff school district. Laguna Shores is a relaxed throwback from another place in time. All the apartments have private back patios, covered parking and feel more like a house than an apartment. Relax under the new pavilion, enjoy the pickleball courts, the full-size half basketball court or the many BBQ stations around the complex. The Laguna Shores is a sprawling community where you don’t feel cramped.

The Laurel Apartments

The Laurel Apartments are conveniently located next to the hustle and bustle of San Antonio College, Crockett Park, the Methodist Hospital and plenty of restaurants and night life. This area is being gentrified quickly as the urban wave from Pearl pushes outward. As rents are almost doubling and older apartment complexes are being torn down the Laurel Apartments still has affordable rent while being able to live in a rapidly changing urban neighborhood. If you want today’s hot location with yesterday’s rents then you should come see us at the Laurel Apartments.

Studio 44 Lofts

Also purchased in 2022 at the corner of Buffalo and Carancahua, in upper downtown Corpus Christi, Studio 44 is a micro loft four-story residential development that was converted from a 60’s era office building. All the apartments have their own VPN’s (virtual Private Network) included with the rent, so no internet or cable contracts are needed. The property has access control and plenty of free parking, which is rare for downtown apartments in Corpus Christi. With views of the Harbor Bridge, Studio 44 is a cozy property in the middle of it all.

Casa del Oro

Located next to the Driscoll Children’s Hospital, Casa de Oro is an eight-story building with classic Brutalist architecture. Placed back away from Alameda Avenue gives Casa de Oro a private setting with fantastic views in all directions. There is ample green space for pets or just enjoying the outdoors. The large fitness center is also popular with the residents. Casa de Oro has a mixed residential base of hospital workers and professionals but largely caters to the above 55 crowd. If you like an adult environment then Casa de Oro is worth a look.

Past Properties

The Bridge Apartments

The Bridge Apartments was a hard-fought project that went through acquisition, land entitlement, city incentives, planning, permitting and funding. This was a textbook case of NIMBYism. The site was in a very sensitive location. The neighborhood through their activism against this project was so strong that the city offered to buy Loopy out of the project. A profit was made but sadly it didn’t get completed. Beware of old ladies in tennis shoes.

The Cosmopolitan

The Cosmopolitan was an absolute gamble. This eight-story apartment project was going to utilize the very low interest rates at time. A PFC deal was accepted and we also applied for a 9% LIHTC. Other than having to purchase the property, this project was going to be built with no equity. We did not get the 9% LIHTC which torpedoed the project. The increase in construction costs over the development period also helped with the decision to not proceed. Currently, Loopy is working with architects to use this site for a four-story (all stick-frame) project called the Beehive. By staying under 70 feet and finding a contractor that can stick-frame six stories we cut the cost of construction almost in half. We still plan to utilize LIHTC but will pursue a 4% deal instead of a 9%.

The Aurora Apartments

Loopy owned the Aurora Apartments for sixteen years before selling it in 2022. The Aurora was under a Section 8 HAP contract. This project highlights the experience and breadth of what we can do at Loopy. Owning and operating a ninety-five-year-old building with a HAP contract is not for the timid or inexperienced. But we earned a stellar reputation with HUD by self-managing this best and always scored over 90 on our REAC inspections and MOR’s. Because of our success with the Aurora, HUD has encouraged Loopy to purchase other distressed or difficult assets. In fact, Casa de Oro is one of them.

La Cascada Condominiums

This twin tower ground up development was completed in 2005. When development began this area was a run-down desert between downtown and King William. We knew we would be the catalyst to revive that area and we were. Anything on the San Antonio Riverwalk is going to be a success and this project was. During initial construction of Tower II, Loopy was approached by Wyndham and sold the second tower outright.

Sol Apartments

This was a lender owned property on its third management company in less than a year and the lender wanted out badly. The property was only sixty percent occupied and fifty percent of those residents were criminals, dope dealers, ne’er-do-wells, prostitutes and other nefarious sorts, which meant we had to evict or non-renew most of the tenant base we had. Luckily, with the purchase price being so low and with Loopy’s construction background we were able to compete on price and get good quality working people in the property. We sold this property for over four times what we paid for it in a matter of six years.

The Edge Apartments

The Edge Studio Apartments is another testament to Loopy’s versatility. This was a hotel conversion that was formerly a Hawthorne Suites. We were attracted to this because the owner was in trouble and wanted out, but mainly because every unit had a kitchen. Again, getting zoning and use changes is very difficult. We also had to assume the owner’s liabilities which included paying a buyout to Hawthorn Suites. We successfully negotiated that on a golf course and went about a massive conversion, rebranding and marketing campaign. We sold this property for twice our total all-in cost in eighteen months. This was our most profitable project ever; very tough but worth it in the end. This project was done with partners and all cash.

Upcoming Properties

The Beehive Apartments

The Beehive will be a dense urban 42-unit four-story residential building on a small 17,640 square foot lot in Tobin Hill. The site has been re-zoned and entitled. We are currently working with architects on final plans and construction documents and hope to be in permitting early next year. We plan to build this project in-house.