Lone Star Funds Sells 539-Unit Eilan Luxury Residences

Lone Star Funds ended its hold on the 539-unit Eilan Luxury Residences, selling the San Antonio property to FPA Multifamily of San Francisco. The sales price was not disclosed, though was assessed at $102.6 million by the Bexar Appraisal District. The purchase also included 17 retail suites occupied by Ruth’s Chris Steak House and Uni’Ko Japanese House.

The apartment complex is part of Eilan, a 120-acre project that includes a 165-room hotel, offices, restaurants and other retail surrounding an outdoor piazza. Lone Star Funds owned the apartment complex since 2013, when it acquired the asset from developer Wereldhave.

Eilan Luxury Residences is at 17803 La Cantera Pkwy., near The Rim, in San Antonio’s far north submarket.

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