Prime Finance Provides Loan for San Antonio Multifamily Acquisition
Prime provided a $47.3 million acquisition loan for Lantower Alamo Heights, a 312-unit apartment complex in San Antonio. The buyer/borrower was Old Three Hundred Capital.
Built in 2015, the rental community offers a range of units, from one to three-bedroom floor plans with amenities that consist of a pool, conference room, dog park and pet wash station, fire pit, fitness center and game room. Lantower Alamo Heights is 93% occupied.
JLL’s Marko Kazanjian, Chris McColpin, Max Herzog and Andrew Cohen arranged the loan well as a preferred equity investment with Sound Mark Partners, on behalf of Old Three Hundred.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.