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Sun Equity acquires $110M Texas multifamily portfolio

Rosewood Realty Group’s National Brokerage Division announced the recent sale of a four-building portfolio in San Antonio, Texas 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.

Park Vista Apartment Homes, 5470 W Military Drive

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) (pictured top).

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.”

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