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5/14/20
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Pico Union Housing Corporation has acquired a five-property, multi-housing portfolio totaling 844 affordable housing units within the San Antonio, TX market. The assets were sold by Terravista Partners. The price was not disclosed.
The garden-style properties in the portfolio include: Roselawn Apartments at 3346 Roselawn Rd (120 units); Spanish Spur Apartments at 6835 Pecan Valley Drive (160 units); Villas of Pecan Manor at 6840 Pecan Valley Drive (160 units); Westwood Plaza Apartments at 2600 Westward Drive (308 units); and Winston Square Apartments at 2506 South General McMullen Drive (96 units). Constructed between 1960 and 1976, the units average 769 sf in size across the portfolio.
JLL’s Capital Markets debt placement team representing the new owner was led by Director Anson Snyder, also with JLL, arranged an acquisition loan through Rialto Capital Management. Remaining loan proceeds will be used to renovate the properties.
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