Casoro Acquires The Jax, Recapitalizes Two Other S.A. Assets

Casoro Group LLC (formerly the PPA Group) bought The Jax, 322-unit apartment complex at 12222 Vance Jackson Rd. in San Antonio. The Austin buyer shook hands with Presidium Group of Dallas to acquire the more than 20-year-old complex.

At the same time, Casoro recapitalized two other San Antonio complexes for upgrades. Sunset Canyon Apartments at 2170 Thousand Oaks Dr. will receive new exterior paint, balcony upgrades and interior improvements. The 232-unit Peppermill Apartments, at 2125 Universal City Blvd., will undergo interior and exterior upgrades. Both complexes will benefit from Freddie Mac Green Advantage energy savings upgrades.

“San Antonio is a great market, and I think the continued value-add opportunities of Sunset Canyon, Peppermill and The Jax, combined with the diverse economy, made this an attractive opportunity for our investment partners,” said Casoro’s Yuen Yung. The company generated more than $90 million in new investment partnerships with two New York firms to commence the acquisition and renovations.

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