California REIT Finds Value in Highly Distressed Asset
Mission Villas in San Antonio apartments recently sold to a California REIT. The price was undisclosed.
The Multifamily Group’s (TMG) Paul Yazbeck represented the seller and Chris Siemasko procured the buyer for its first San Antonio purchase. TMG was the second brokerage firm to work this highly distressed property listing.
“We knew the circumstances of the property from the beginning, and we had the perfect buyer in mind that brought the best offer possible despite being a distressed asset,” says Yazbeck.
The units have spacious floorplans and large closets, while community amenities include two swimming pools, barbecue area and playscape. Built in 1965, the property sits on 5.06 acres, and is located between Interstate 35 and Interstate 37 near many of the city’s major southside employers.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.