River Rock Capital and Sun Holdings Nab Sizeable Multifamily Holdings

A four-property 1,103-unit multifamily portfolio located within the major medical centers in San Antonio and Houston recently sold to River Rock Capital and Sun Holdings. River Rock Capital purchased Broadstone Oak Hills and Hawthorne House while Sun Holdings purchased Equinox and 5755 Hermann Park.

Broadstone Oak Hills (7714 Louis Pasteur Dr.) and Hawthorne House (7403 Wurzbach Rd.) are near the South Texas Medical Center in San Antonio, and 5755 Hermann Park (5755 Almeda Rd.) and Equinox (2950 Old Spanish Trail) are within the Texas Medical Center in Houston.

Newmark’s Patton Jones, Matt Michelson, Zach Springer, David Mitchell and Thomas Alleman represented the sellers: Alliance Residential in the sale of Broadstone Oak Hills, Hawthorne House and Equinox and M-M Properties in the sale of 5755 Hermann Park.

“This portfolio provided investors the opportunity to acquire sizeable footprints in two major medical centers, accessing economies of scale. These properties were sought-after by both institutional and private family office investors,” said Jones. “With the immense projected growth of the healthcare industry, multifamily assets proximate to medical hubs will benefit from a steady stream of renters for years to come.”