Hayden Properties Sells San Antonio Townhomes

The new owner assumed a $13.1 million loan originally taken out in 2014, when purchasing Castle Hills Townhomes.
Castle Hills Townhomes. Image courtesy of JLL

Lyndon Management has acquired the 149-unit Castle Hills Townhomes in San Antonio from Hayden Properties. The new owner assumed the outstanding balance of a $13.1 million CMBS loan, originally taken out in 2014 from Wells Fargo Bank, according to Yardi Matrix information. The financing includes an interest of 4 percent and a maturity date set for 2025. The asset last traded at the end of 2014, when Sendera Investment Group sold the property.

Located at 1947 Larkspur Drive in a dense residential area, the community is roughly 6 miles from the San Antonio International Airport and 18 miles north of downtown San Antonio. Comprising 22 two-story townhomes completed in 1997, the asset includes one-, two- and three-bedroom options with floorplans ranging from 732 to 1,224 square feet. Common-area amenities include a pool and outdoor kitchen/lounge area. At the time of sale, the property was 97 percent occupied.  

Managing Director Scott LaMontagne and Executive Vice Presidents Moses Siller and Zar Haro from JLL worked on behalf of the buyer. The same team represented Passco Cos. in the transaction of Tribute at the Rim, a 380-unit community in San Antonio.