Devin Elder's DJE Texas Management Acquires Multifamily Portfolio In San Antonio For $56.7M

The multifamily property portfolio located in North Central San Antonio has been recently closed in a transaction. The portfolio consists of three properties: 8631 Fairhaven St, 12221 Blanco Rd, and 7302 University Row, totaling 599 units. The transaction was overseen by Devin Elder of DJE Texas Management, who acted as the landlord, and John Brickson of McKinney Realty Capital, who served as the broker.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $56,725,000

The Bancorp Bank and lument''>Lument provided a bridge loan of $56,725,000 for this transaction. The loan terms include a 3+1+1 non-recourse bridge loan structure. It is worth noting that this three-property portfolio represents a significant investment opportunity in the rapidly growing market of San Antonio, Texas.

With Devin Elder and John Brickson leading the way, this transaction showcases their expertise in the North Central San Antonio real estate market. Their successful collaboration resulted in the completion of this substantial multifamily portfolio acquisition.