Boerne, TX | January 8, 2026 - Steadfast Companies recently completed the acquisition of Oxbow Hill Country, a 172-unit garden-style multifamily community located in Boerne, Texas, within the Texas Hill Country northwest of San Antonio.
The property is located at 825 Johns Road, just off Interstate 10, offering direct access to major employment centers and retail corridors across the greater San Antonio region. Built in 2003, Oxbow Hill Country comprises approximately 132,700 rentable square feet across nine residential buildings on 6.8 acres, with a unit mix of one-, two-, and three-bedroom apartments. At the time of acquisition, the property was approximately 81% occupied, and more than 80% of units remain in original condition, creating a clear path for operational stabilization and targeted improvements.
From an investor’s perspective, this transaction reflects a broader shift underway across the U.S. multifamily market. CoStar’s latest data shows that performance dispersion is widening, with outcomes increasingly driven by asset type, submarket, and execution rather than broad market trends. Suburban, garden-style communities have demonstrated greater operating stability than newer, high-density product, where supply pressure and higher capital costs have been more disruptive.¹
Oxbow Hill Country fits squarely within this framework. The asset is located in a supply-constrained, high-income suburban submarket anchored by the highly rated Boerne Independent School District, yet it required a loan extension prior to the transaction. In today’s environment, that dislocation reflects capital structure stress driven by higher interest rates and tighter lending standards rather than underlying demand weakness.
“This was a property where the capital structure needed attention,” said Bill Stoll, Chief Investment Officer of Steadfast Companies. “Our focus is on stabilizing operations, restoring occupancy, and securing long-term financing through disciplined execution.”
Execution will be carried out through Steadfast’s fully integrated operating platform, including in-house asset and property management, drawing on the firm’s deep regional experience in Texas. The acquisition aligns with Steadfast’s strategy of targeting suburban, garden-style multifamily assets with light value-add potential, where performance can be improved through operational focus rather than aggressive assumptions. Steadfast is investing meaningful capital alongside its partners, consistent with the underwriting standards and discipline applied across Steadfast’s broader investment platform.
For Steadfast Direct investors, transactions like this provide insight into how Steadfast evaluates risk, identifies opportunity created by market dislocation, and applies operating expertise across market cycles. While not every acquisition is structured for direct participation, opportunities made available through Steadfast Direct reflect the same principles outlined in the firm’s investment thesis.
For additional context, review Steadfast’s investment thesis and watch the recent webinar, “Why We’re Buying Again: A Window of Opportunity in Multifamily.”
To learn more about Steadfast Direct and future opportunities, visit steadfast-direct.com or subscribe to The Steadfast View.
Source/Footnote
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Multi-Family National Report, United States, CoStar, sourced 1/08/2026.
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