Atlantic Pacific Finds Sweet Spot in San Antonio

They’ve made it clear San Antonio is a winning location when it comes to apartment communities. Atlantic and Pacific Communities (A & P) bought seven acres on the northeast side of town and is expected to start work on another apartment complex. If they follow through, it will be their eighth in the region. The latest site is just north of Morgan’s Wonderland Complex, at 4557 Thousand Oaks Drive.

Although many of the details were not disclosed, the San Antonio Business Journal reported that a deed of trust filed in April with Bexar County showed a $16 million loan from Houston-based Stellar Bank as part of the transaction. The assessed value of the land is $401,000.

Atlantic Pacific owns seven other communities in the area. A & P is building Vista at Interpark and Vista at Everest, both 64-unit communities that are part of a partnership with local firm OCI Development. Both complexes are restricted to rents up to 80% of the average median income.