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21302 Encino Commons San An...

Updated Oct 29, 2024

The Milestone Group Acquires Archer Stone Canyon Apartments Multifamily In San Antonio
SOLDMultiFamily

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

TG
The Milestone GroupBuyer

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

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