Triago Ventures has acquired Republic Woodlake, a 288-unit community in San Antonio, from Pensam Capital. The buyer funded the purchase with a $25 million acquisition mortgage held by Walker & Dunlop. In June, the lender provided more than $80 million in bridge funding for two Dallas-area assets.
The property last changed hands in October 2011, when Pensam acquired it from PGIM Real Estate, according to Yardi Matrix.
Located at 7027 Farm-to-Market Road 78 in San Antonio’s Northeast Side submarket, the community’s 18 three-story buildings are approximately 10 miles from the city’s downtown area. The Seguin Road retail corridor is roughly a mile to the west, containing a wide assortment of dining and shopping options.
The community, constructed in 2008, contains a mix of one- to three-bedroom units, with floorplans ranging between 587 and 1,150 square feet. Amenities include:
- swimming pool
- dog park
- resident clubhouse
- fitness center
- volleyball and basketball courts
- business center
- laundry facilities
Triago plans to invest in the property through a series of upgrades intended to reposition the asset.
Image courtesy of Yardi Matrix