National brokerage Rosewood Realty Group announced the recent sale of a portfolio of four buildings in San Antonio, Texas for $ 108.75 million.
Rosewood Realty Founder and CEO Aaron Jungrace represented buyer, New York investor Sun Equity Partners and Rosewood Realty national investment sales team members Matt Yekes and Jonathan Brody represented Seller, Kairoi Residential, a Texas-based real estate investor and developer.
The property consists of 1230 rental units and includes:
– Park Vista Apartment Homes, 5470 W Military Dr. (built in 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 in 1964) (pictured above).
The total cost of the buildings was 974,363 sq. M. And sold at $ 88,414 per unit at a capitalization rate of 4.96.
“Over the past year, Rosewood National has closed approximately $ 300 million in over-the-counter multi-family properties in various Texas markets,” Yekes said. “This deal demonstrates the strong confidence of foreign investors in San Antonio’s rapid growth.”
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