Hayden Properties Sells TX Portfolio

RSN Property Group picked up the two Class B San Antonio communities, financing the transaction with a nearly $31 million mortgage.
The Henry B Apartments

RSN Property Group has acquired a two-asset, 388-unit multifamily portfolio from Hayden Properties in San Antonio. The buyer funded the purchase with a $30.7 million mortgage held by C-III Capital Partners, according to Yardi Matrix.

Hayden picked up the Class B communities from Henry S. Miller Realty Management in March 2012. In August, the firm sold a 161-unit property to Western Wealth Capital.

Located at 11530 Vance Jackson Road in San Antonio’s Robards submarket, the 198-unit Henry B Apartments is approximately 1 mile from the McDermott Freeway. A bus route operates alongside the asset, providing access to the city center, 10 miles southeast. The community contains a mix of one- to three-bedroom apartments and was 89.9 percent occupied in August, per Yardi Matrix data.

The Blair@Bitters

The second asset in the portfolio, the 190-unit Blair@Bitters, is positioned at 400 W. Bitters Road in the city’s Far North Central submarket, six miles east of the other property. The garden-style community’s 18 buildings contain one- and two-bedroom units, ranging from 524–1,008 square feet. Amenities include a fitness center, laundry facilities, a tennis court and two swimming pools.

Images courtesy of Yardi Matrix