Holliday Fenoglio Fowler, L.P. (HFF) announces $31 million in financing for two San Antonio, Texas, apartment communities totaling 636 units – Brynwood Apartments and Sereno Park Apartments.
The HFF team worked on behalf of a joint venture between Western Wealth Capital and an MDC Realty Advisors USA, Inc.-managed fund to secure two separate five-year, floating-rate loans through a national bank. The partnership acquired the properties on an all-cash basis in late 2017, and the loans were arranged post-close to assist with their capital expenditure program. This transaction follows the recently announced acquisition loans HFF arranged on the partnership’s behalf for two Phoenix-area multi-housing properties, Greentree Place and Autumn Creek Apartments.
Brynwood Apartments was built in 2007 and consists of 276 one-, two- and three-bedroom units featuring stainless steel appliances, faux quartz countertops, shaker-style cabinets and wood-style flooring. Common area amenities include a resort-style pool with sundeck, grilling area, 24-hour athletic center, clubhouse with coffee café, business center and bark park. Brynwood Apartments is located at 8711 Bowens Crossing one block inside of Loop 1604, which positions it near the University of Texas at San Antonio campus, Six Flags Fiesta Texas, SeaWorld San Antonio and The Shops at La Cantera in San Antonio’s northwest side.
Sereno Park Apartments is situated on nine acres at 3903 SE Military Drive just east of Interstate 37 approximately eight miles southeast of downtown San Antonio. The property’s three-story, Spanish-style buildings house a mix of 360 renovated one-, two- and three-bedroom units featuring breakfast bars, pantries, nine-foot ceilings, faux-wood flooring, full-size washers and dryers and walk-in closets. Community amenities include a swimming pool, grilling stations, bark park, 24-hour athletic club and covered parking.
The HFF team representing the borrower included managing director Josh Simon and senior directors Brad Miner and Chris McColpin.
