336-Unit Flats at Big Tex Sells to Accend Cos.

Accend Cos. of Chicago acquired the 7.5-acre, 336-unit Flats at Big Tex apartment complex. Accend, which specializes in operating high-end apartment properties, acquired the asset at 423 Blue Star in San Antonio from local developer James Lifshutz and NRP Group for an undisclosed price. The Bexar Appraisal District valued the complex at approximately $70.2 million, and the buyer obtained $51.8 million in acquisition financing from the Canadian Imperial Bank of Commerce.

Flats at Big Texas opened in 2016, and is one of the largest projects to be built on the Mission Ranch stretch of the San Antonio River Walk. The complex offers one, two and three-bedroom units, with 560 to 1,502 square feet, and monthly rents between $1,135 and $2,915. On-site amenities include a resort-style swimming pool, two dog parks, an activity area with gaming tables, WiFi café with media lounge, and fitness center with cardio room and flex studio.

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