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December 15, 2018
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MULTIFAMILY NEWS
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Sterling Real Estate Holdings Acquires 111-Unit Multifamily Property in Texas

2/14/18

Sterling Real Estate Holdings, a joint venture between Barker Pacific Group (BPG) and Pacific Real Estate Partners (PREP), has acquired La Fiesta Apartments in San Antonio. The 111-unit apartment complex is situated in the Alamo Heights submarket of northeastern San Antonio.

Built in 1970, the apartment community contains 68 two-bedroom units. The existing on-site amenities include picnic areas, a swimming pool, laundry facilities, and a central garden courtyard.

Sterling plans to invest in the property by improving landscaping and other common areas, as well as renovating apartment interiors. The purchase price was not disclosed.

La Fiesta is Sterling’s second San Antonio-area acquisition following its 2016 purchase of Chestnut Park Apartments in Castle Hills. It continues Sterling’s focus on investing in value-add, Class-B and Class-C multi-family assets throughout southwestern U.S. markets, including San Antonio, Austin, Phoenix, Las Vegas, and Reno.





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