MBP Capital Sells 346-Unit San Antonio Community
- Nov 15, 2019
MBP Capital has sold The Valencia on Four10 in San Antonio to Achieve Investment Group, Yardi Matrix data shows. Walker & Dunlop originated a $24.2 million Fannie Mae acquisition loan for the buyer of the 346-unit community. The financing carries a 4.29 percent fixed interest rate and matures in 2031.
The asset’s 20 two-story buildings are located at 5111 Glen Ridge Drive on 16 acres, adjacent to a Walmart Supercenter and several other big-box retailers. The property is close to Interstate 410, some 10 miles northwest of downtown San Antonio. The community is 6 miles from a 328-unit property which changed hands in late October.
Completed in 1982, The Valencia on Four10 has one-, two- and three-bedroom apartments with floorplans ranging from 722 to 1,454 square feet. Amenities include two pools, a fitness center, a tennis court and a clubhouse. According to Yardi Matrix information, the community was 96.8 percent occupied as of October.
This summer, Walker & Dunlop originated a $38 million Fannie Mae loan for Turner Impact Capital in Houston. The financing was used to acquire a large, 659-unit community west of the city center.