Kyle Libby Of Medcore Partners Secures $69.4M Loan From Forbright Bank For Acquisition In San Antonio

The property asset involved is a 221-unit seniors-housing complex located at 230 West Sunset Road in San Antonio. Medcore Partners acquired this multifamily asset through $69.4 million in financing from Forbright Bank. The property's recent assessed value was noted at $39 million and includes independent, assisted, and memory-care units.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $69,400,000
• Lender: Forbright Bank
• Landlord: Kyle Libby - Medcore Partners
• Previous Owner: Artemis Real Estate Partners

The transaction was represented by Kyle Libby from Medcore Partners, highlighting the involvement of a seasoned investor in the acquisition of the seniors-housing complex. The financing secured from Forbright Bank underscores the strategic investment approach of Medcore Partners in the San Antonio market.