Joule Apartments Gets $24M Bridge Acquisition Infusion

A $24.4 million bridge acquisition loan was recently provided for Joule Apartment Homes, a 300-unit garden-style apartment community located in northwestern San Antonio. Renovated in 2019, the property consists of 19 buildings situated on 9.5 acres located near downtown San Antonio, The Shops at La Cantera and San Antonio International Airport.

Its amenities feature a clubhouse, dog park, business center, fitness center and two swimming pools. Residents have a short commute to employers such as Champs Medical or the higher education institutions of the University of Texas at San Antonio.

With a population of 1.5 million, San Antonio is the seventh most populated city in the United States and the second most populated city in the state of Texas. It is also listed among the fastest growing cities out of the top 10 largest cities in the United States.

Dwight Capital’s Brandon Baksh and Brian Yee originated this transaction through the firm’s commercial mortgage REIT, Dwight Mortgage Trust. The financing was arranged by Patrick Short of Walker and Dunlop.