Ceruzzi-Beaumont Partners Acquisition of Prime Property in Texas
Ceruzzi-Beaumont Partners Announce Acquisition of Prime Property in San Antonio, TX
21-Acre Parcel Set for Development of TheISOLA-San Antonio – Distinctive Residences with Hotel Services
AUSTIN, Texas, April 22, 2015
AUSTIN, Texas, April 22, 2015 /PRNewswire-iReach/ — Ceruzzi-Beaumont Partners announces the acquisition of a 21-acre parcel for the construction and development of TheISOLA-San Antonio. TheISOLA combines an upscale apartment community with hotel amenities, including a restaurant, bar, over-sized gym, spa and other hotel services. Approximately one-half of the residents will reside on a permanent basis, and the remainder of the property will serve hotel guests. The site is located in the southwest quadrant of State Highway 151 and Loop 410 in the Westover Hills neighborhood of San Antonio. Austin-based Accord Interests will develop and manage a 576-residence community.
TheISOLA will have a superior amenity package, including a full bar, restaurant, convenience store, business center, large pool area with hot tub, extensive gym with basketball court, weights, and sauna. Residents and hotel guests can also enjoy a massage, facial and other services in the spa. In addition, residents and hotel guests have access to complimentary courtesy cars and on-site car rental.
Permanent residents can choose from a menu of service options including housekeeping, chef-prepared meals, and linen services, with monthly rents starting at $925 monthly, including select services. Residents can choose from studio, one-bedroom, two-bedroom, three-bedroom and four-bedroom models, with flexible lease terms ranging from month-to-month leases to annual leases.
Hotel guests can stay for as little as a single night or remain for an extended stay. All hotel guests receive complimentary dining privileges, with weekday hot breakfast and dinner, and large weekend brunches. TheISOLA will offer families the only option for one, two, three or four bedrooms with dining included in a pet-friendly environment. Each hotel residence is fully furnished with all household items, including a washer and dryer, as well as everything needed to prepare and enjoy meals in the home.
TheISOLA-San Antonio is modeled after Isola Bella in Oklahoma City, which Accord Interests developed and manages, and includes 850-residences available on a permanent or transient basis. “We fill a need that is being overlooked right now,” explains Melissa Wheeler, Regional Manager for Accord Interests. “Many of our permanent residents are young professionals that want a more carefree lifestyle. Without having to worry about cooking, cleaning and other housework, they can spend more time enjoying their passions. Most of our weekday hotel guests are business travelers that ‘pocket their per diem’ for food, since our rates include meals. Our weekend guests include many families that want the freedom and space that a full apartment home offers, plus the convenience of meals included.”
TheISOLA’s hotel residences will serve many of the government workers traveling to San Antonio, as well other business travelers and families looking for more space. Residences will be available for as low as $90 per night, including meals, with discounts available for longer stays. Being able to have dining services included not only saves substantial money for guests and residents, but also provides a friendly and inviting community when traveling.
Ceruzzi-Beaumont chairman Louis Ceruzzi added, “We are delighted to contribute to filling this void in residential living, and expect to replicate this innovative solution in other metropolitan areas in the near future.”
The acquisition represents the first in a series of planned programmatic real estate acquisitions and development opportunities of the newly formed joint venture between Ceruzzi Holdings and Beaumont Partners. The group aims to build a scalable global platform with significant aggregation value in niche markets.
Media Contact: Joseph Mansour, Accord Interests LLC, 512-600-1880, firstname.lastname@example.org