An individual investor has acquired a 278-unit community in San Antonio’s northern region from Jevan Capital Fredd Apartments. According to Yardi Matrix data, the sale was subject to a $22.1 million loan held by Fannie Mae. The asset had an occupancy rate of 95.7 percent at the time of sale.
Located at 9109 Dartbrook Drive, The Fredd is 10 miles north of downtown San Antonio and within walking distance of dining facilities and public transportation means. Several retail, dining and entertainment centers are within a 2-mile radius, including Fredericksburg North Shopping Center. The property is also close to the interchange of interstates 10 and 410, an area with several shopping and medical centers, such as University of Texas Health Science Center at San Antonio.
The 56-building asset occupies more than 22 acres. The unit mix consists of studio and one- to three-bedroom floorplans ranging from 497 to 1,350 square feet. Common-area amenities include a swimming pool, volleyball and basketball courts, a playground and partially covered parking.
Jevan Capital also owns Keystone at Alamo Heights Apartments, a 224-unit community located roughly 10 miles from The Fredd.
Image courtesy of Yardi Matrix