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Tuesday, 26 November 2019

Crowdfunded San Antonio, Texas, Apartments Sell for $49.35Mln

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Commercial Real Estate Direct Staff Report

The venture that owned the Quarry Station apartment property, with 306 units in San Antonio, Texas, has sold the property for $49.35 million, or $161,274.50/unit.

The property, the former Crescent at Alamo Heights at 3400 Treeline Park, had been owned by a venture of Ebex Holdings of Beverly Hills, Calif., and AMAC, an affiliate of Arbor Commercial Mortgage. That venture had acquired the property in June 2017 and later that year raised $3.2 million of equity through the ArborCrowd crowdfunding platform, another member of the Arbor family of companies.

Investors who put capital in the deal through ArborCrowd generated a 20.31 percent internal rate of return from the sale - more than was initially projected.

When ArborCrowd offered investors the chance to buy into the Quarry Station property, it was 85 percent occupied and generating $1.8 million of net operating...

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: San Antonio
  • States: Texas
  • Sector: Multifamily
  • Subject: Property Acquisitions (ACQ)
  • Company: Arbor Commercial Mortgage
  • Valuation: Between $25 million and $50 million
  • Private: Yes
Read 605 times Last modified on Wednesday, 27 November 2019
Orest Mandzy

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