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Kairoi Corrals 612-Unit San Antonio Rental Community
Local firm Kairoi Residential has acquired the Signature Ridge apartment complex at 3711 Medical Dr., west of I-10. Signature Ridge has 612 units.
The San Antonio Business Journal reports the company took out a $57.3 million loan from Berkeley Point Capital—a Newmark division—as part of the deal, according to Bexar County Records. The complex was recently appraised at $88 million by the Bexar County Appraisal District.
Signature Ridge offers 1-, 2- and 3-bedroom units ranging from 635 square feet running up to 1,342 square feet. Kairoi owns a number of apartment complexes in the San Antonio area, including Hawthorne House and The Sterling at Oak Hills — both also located in the Northwest Side Medical Center submarket.
The site was previously owned by CBRE’s investment management division. The property was previously managed by Greystar, and it’s unclear whether they’ve remained as the management company under the new arraignment.
- ◦Sale/Acquisition
