San Antonio, TX Rosewood Realty Group’s National Brokerage Division completed the sale of a four-building portfolio for $108.75 million.
Rosewood Realty’s founder & CEO Aaron Jungreis represented the buyer, New York-based investor Sun Equity Partners and members of Rosewood Realty’s National Investment Sales team Matt Yeckes and Jonathan Brody represented the seller, Kairoi Residential, a Texas-based real estate investor and developer.
The properties feature 1,230 rental units and include:
- Park Vista Apartment Homes, 5470 W Military Dr., (built 1986)
- Pearl Park Apartment Homes, 5100 NW Loop 410, (built 1974)
- Merida Apartment Homes, 2167 NE Loop 410, (built 1974)
- La Silva Apartment Homes, 3903 Barrington St., (built 1964)
The buildings totaled 974,363 s/f and sold for $88,414 per unit, with a 4.96 cap rate.
“Within the last year, Rosewood’s National division has closed on approximately $300 million of off-market multifamily real estate in various Texas markets,” said Yeckes. “This transaction indicates a strong confidence in the rapid growth of San Antonio by out-of-state investors.”
“Rosewood National takes a targeted approach to find the unique type of investment vehicle for each and every client,” said Brody. “These particular properties are all value-add opportunities for new ownership looking to expand their regional portfolio and capture the upside.”
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