Oak Hills Village Assumes New Name in Acquisition

Lightstone Capital recently provided an $11.8 million loan to the Brennan Pohle Group and Next Space Development for the acquisition and renovation of a 121-unit garden-style apartment property in San Antonio. The property, built in 1973, is located at 1847 Babcock Rd. in San Antonio’s Northwest submarket next to the Oak Hills Golf Course and less than a mile from the South Texas Medical Center.

The apartment complex known as Oak Hills Village will be renamed The Oaks @ Medical Center.

The Brennan Pohle Group is a private investment firm based in Austin and San Diego led by principals, Justin Brennan and Christopher Pohle. Next Space Development, run by Rudy Medina and Richard Simis, partnered with the Brennan Pohle Group to bring additional expertise and construction knowhow to the table.

“Lightstone is a very good financial partner with flexible lending solutions for our value-add strategy at The Oaks @ Medical Center. They understand the business plan and goal to take the property to the next level,” said Brennan.

The deal was brought to Lightstone Capital by Cutt Ableson, a senior managing director of the Houston office of Berkadia. It was handled in Lightstone Capital’s Dallas office, which is led by Lance Wright, managing director, Central Region head of originations.