San Antonio Multifamily Asset Trades to StoneRiver
Stoneriver has acquired Pecan Springs, a 344-unit multifamily community in San Antonio. Electra America was the seller. StoneRiver’s in-house property management division will run the community.
The nine-year old complex encompasses 15 buildings, with floorplans that range from one to three bedrooms and sizes that range from 583 square feet to 1,305. Common area amenities include two pools, fitness center and a clubhouse. Indoor amenities include washers and dryers in every unit, enclosed garages, private balconies and patios.
The transaction is StoneRiver Fund’s third acquisition. The company recently sold The Retreat at Cinco Ranch, a 268-unit garden-style project for $68.3 million.
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.
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