By Anca Gagiuc
Berkadia arranged the off-market acquisition of a 232-unit garden-style community located across the University of Texas at San Antonio. MBP Capital Inc. purchased the asset from San Antonio non-profit American Opportunity for Housing for an undisclosed amount.
The transaction was facilitated by Berkadia’s San Antonio and Austin offices—Senior Director Will Caruth, Managing Director Michael Miller, Director Christopher Ross and Associate Director Cody Courtney arranged the deal.
Value-add investment opportunity
Built in 1978, Avistar at Chase Hill is a 27-building property occupying more than 11 acres at 15800 Chase Hill Blvd. in the Beckman submarket. The unit mix consists of one- and two-bedroom units ranging from 500 to 941 square feet and feature private balconies/patios, hardwood floors and walk-in closets. Community amenities include a fitness center, tennis court, playground, three swimming pools and 305 parking spaces.
Besides the proximity to the University of Texas at San Antonio, Avistar at Chase Hill is situated near Six Flags Fiesta Texas and Palladium IMAX. Major transit routes include East Charles William Anderson Loop and Interstate 10.
Image courtesy of Yardi Matrix