JV Obtains Financing to Buy MXU Vistana

A joint venture between Duncan Hillsley Capital and Rincon Real Estate Investments obtained financing to acquire The Vistana, a mixed-use property in downtown San Antonio. Located at 100 N. Santa Rosa St., The Vistana consists of 247 residential units and more than 30,000 square feet of retail space. AREA Real Estate LLC was the seller.

Brad Williamson with Berkadia represented the borrower, securing a five-year, 3.1% fixed-rate, non-recourse loan with a national bank. “The property’s location and integration of multifamily with retail, coupled with an extensive value-add program, will allow the sponsor to create an asset that complements nearby developments such as the new Frost Bank Tower,” Williamson said.

The Vistana opened in 2009, and offers studios, one-, two- and three-bedroom units. The property also offers a sixth-floor amenity deck with pool, fitness club, private garage and on-site self-storage facility.

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