GVA Real Estate Group has acquired the 244-unit Kenton Place in San Antonio from a local private investor. The acquisition was financed through a $18.6 million three-year bridge loan from NXT Capital, according to Yardi Matrix information.
Located at 14650 Nacogdoches Road in a dense residential area, the asset is less than 15 miles northeast of downtown San Antonio and has easy access to public transit, as well as retail and dining options. The property comprises one-, two- and three-bedroom apartments in 44 two-story buildings completed in 1984 on a 13.7-acre site. Common-area amenities at the property include two pools, a business center, a fitness center and a dog park. As of May, the community was 86.9 percent occupied, per Yardi Matrix data.
JLL’s Moses Siller and Zar Hero worked on behalf of the seller, while Mark Brandenburg and CW Sheehan arranged the financing. The transaction comes at the heels of GVA Real Estate Group’s acquisition of the 170-unit Victorian Village in San Antonio. The two communities are roughly 7 miles from each other.