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Kairoi Residential Collects 1,200 Value-Add Units
Kairoi Residential, the rebrand of Lynd Residential Properties and Lynd Development Partners in San Antonio, acquired 1,210 units in a value-add play from Omninet Capital in California. The four multifamily assets, also located in San Antonio, have a combined assessed value north of $48 million. The sales price was undisclosed.
Will Balthrope, Drew Kile and Jordan Featherston, with Institutional Property Advisors (IPA), brokered the transaction. “Located within strong submarkets, each one of these ’workforce housing’ assets provide new ownership with an outstanding opportunity to add value through unit enhancements and exterior upgrades,” Balthrope said. “Three of the four properties have successful upgrade programs in place, and one has untouched unit interiors that are poised for upgrading.”
The properties are:
- Diamond Ridge North, 5235 Glen Ridge Dr., 304 units
- Parkvista Apartments, 5470 West Military Dr., 477 units
- Pearl Park, 5100 N.W. Loop 410, 188 units
- Somerset Apartments, 5335 N.W. Loop 410, 241 units
For comments, questions or concerns, please contact Amy Sorter
- ◦Sale/Acquisition
