San Antonio Student Community Changes Hands

Arrimus Capital financed the acquisition of the 498-bed property with a nearly $25 million Freddie Mac loan originated by Walker & Dunlop.
Prado

Fountain Residential Partners has sold Prado, a 498-bed student housing community in San Antonio, to Arrimus Capital, according to Yardi Matrix. Walker & Dunlop provided a 10-year, $24.9 million Freddie Mac acquisition loan to the buyer.

In January, Arrimus acquired a comparably sized luxury student community in Iowa.

Located at 7114 UTSA Blvd., the four- and six-story building is positioned at the southern end of the University of Texas at San Antonio’s campus. The community is 2 miles from Interstate 10, 15 miles northwest of the city’s downtown.

The community, opened in 2015, contains a mix of studio and one- to five-bedroom apartments, ranging from 488 to 1,841 square feet. Amenities include a 24-hour fitness center, a swimming pool, tanning beds, a game room, a coffee bar and a computer lab. Four retail tenants, including restaurants and a barber shop, occupy 6,000 square feet of retail on the ground floor.

Image courtesy of Yardi Matrix