Updated Oct 29, 2024
The Milestone Group Acquires Archer Stone Canyon Apartments Multifamily In San Antonio
21302 Encino Commons San Antonio, TX 78259, USA
Units
228
Asset Type
MultiFamily
Closing
Aug 16, 2023
About this deal
AI
The Milestone Group, represented by Jim Duey & Chris Bartlett, has acquired Archer Stone Canyon Apartments, a 228-unit multifamily community located at 21302 Encino Commons in San Antonio, Texas. The property was acquired through an assumption of the existing Freddie Mac loan. Milestone plans to enhance amenities and unit interiors as part of their investment strategy.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not mentioned
- Number of Units: 228
- Address: 21302 Encino Commons
- Market: San Antonio
The acquisition of Archer Stone Canyon Apartments was made by The Milestone Group, with Jim Duey & Chris Bartlett representing the buyer. This transaction demonstrates The Milestone Group's investment strategy in the multifamily sector, with plans to improve the property's amenities and unit interiors for the benefit of current and future residents.
Players
San Antonio MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93