3800 Perrin Central LLC Secures $15.2M Acquisition Loan From Regions Bank For 258-Unit Multifamily In San Antonio

The Newport Apartments, located at 3800 Perrin Central Boulevard in San Antonio, was recently acquired by 3800 Perrin Central LLC. The multifamily property consists of 258 units, offering a mix of one-, two-, and three-bedroom options. With amenities such as business and fitness centers, the property is highly attractive to residents. The acquisition of Newport Apartments was made possible through a $15.2 million debt from Regions Bank, alongside $15.5 million in equity.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $15,200,000
• Units: 258
• Lender: Regions Bank
• Landlord: 3800 Perrin Central LLC

This financial transaction involved the collaboration of 3800 Perrin Central LLC as the buyer and Regions Bank as the lender. Through securing the $15.2 million loan, 3800 Perrin Central LLC was able to acquire the Newport Apartments in San Antonio. The property's assessed value last year was $27.8 million, highlighting its financial potential and desirability in the market.