Updated Dec 4, 2024
Univest Acquires 274-Unit Luxury Community In San Antonio From Covenant Capital Group
25051 Interstate 10 West
Units
274
Asset Type
MultiFamily
Closing
Oct 25, 2023
About this deal
AI
The Park at Rialto, a 274-unit luxury community located at 25051 Interstate 10 West in suburban San Antonio, has been sold by Covenant Capital Group to Univest. The property spans over 9.3 acres and was completed by GenCap Partners in 2017. As part of the transaction, Univest took over a $28.1 million CMBS loan.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not available
- Units: 274
- Acres: 9.3
- Buyer: Univest - Sharo Khastoo
- Seller: Covenant Capital Group
- Brokers: J.R. Ellis & Matthew Romanchuk - Greysteel
The deal involved the participation of brokers J.R. Ellis and Matthew Romanchuk from Greysteel, who represented the respective parties. The sale of The Park at Rialto marks another successful transaction in the San Antonio market.
On the Map
MultiFamily
View full map
Players
San Antonio MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Browse San Antonio multifamily sales on Traded.
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