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.