Celebrity-Backed Fund Acquires 384-Unit Heights on Perrin

Turner Multifamily Impact Fund, a California fund backed by celebrities including actor Eva Longoria and basketball player Chris Paul, acquired the 384-unit Heights on Perrin from Bridge Investment Group. The acquisition is the fund’s third in San Antonio.

Matt Michelson and Pat Jones of Newmark Knight Frank brokered the transaction.

The apartment complex at 2555 N.E. Interstate 410 Loop opened in 1980. The property offers one- and two-bedroom units, with an average unit size of 691 square feet. On-site amenities include a soccer field, basketball court, two swimming pools, hot tub, playground and fitness center.

The fund is operated by Turner Impact Capital LLC, which also owns the 276-unit Grove and 252-unit San Mateo apartments in San Antonio. Turner Multifamily Impact Fund attempts to keep rents affordable, while offering free social programs for its residents.

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