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We are excited to get 2024 off on the right foot with a unique opportunity with exceptional returns balanced with low risk due to a 50% property tax exemption. The property tax write-off comes from a partnership with a private non-profit which means no government delays and a swift closing. You will find projected returns listed below.


Fortress Federation and Lone Star Capital are joining forces to bring you Aspire, a 335-unit, 1986-built apartment complex in the Balcones Heights submarket of San Antonio, Texas.


This is a  506c opportunity, available to accredited investors only.

Click the image below to view our webinar recording covering our latest offering, Aspire in San Antonio, Texas.

What makes this an excellent investment:


✅  50% of property taxes written off due to partnership with private nonprofit significantly boosts NOI, cash flow, and total returns.

✅  Distressed Seller. The seller has to sell many of their assets as they need to raise capital to distribute to their investors.

✅  The low-cost basis is reflected in the sales comps. We purchased Aspire at a market-low cost per door at $76k/unit compared to the market comps average of $118/unit.

✅  The property tax exemption enables us to offer strong returns without significant rent hikes, making for an unusually low-risk business plan.

✅  The property has a stable and reliable tenant base, as it has had a history of 93.5% occupancy over the past 27 years (Asiometrics).

✅  4.4 TO 1 affordability ratio, meaning the housing expense makes up only 22.7% of the tenant base’s income. The requirement is ⅓ or 33%

✅  Fixed interest rate.

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Investment Details

  • Offering Size: $9,050,000


  • Underwritten Hold Period: 5 Years


  • Class A Investment ($50k minimum, 8% preferred return)

    • Net IRR: 17.8%

    • Annualize Return: 22%

    • Average Cash on Cash: 8.3%

    • Equity Multiple: 2.10x


  • Class B Investment ($500k minimum, 9% preferred return)

    • Net IRR: 19%

    • Annualize Return: 24.2%

    • Average Cash on Cash: 8.3%

    • Equity Multiple: 2.21x

If you would like to schedule a time to discuss the details of this investment, please click the button below.

Investment Logistics

  • February 02 - Funding Deadline

  • February 13 - Targeted Closing


  • Distributions & Communications

    • Monthly distributions by the end of the month (starting in April 2024)

    • Monthly updates and financial reports by the end of the month

    • Detailed Quarterly reporting by the end of the month following the end of the previous quarter



  • This is a 506(c) offering available to accredited investors only.

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