Benefit Street Partners and Strategic Properties of America, based in New York and New Jersey respectively, have listed the Augusta Flats apartments located at 714 McCullough Ave. in San Antonio for sale. The property, which spans 207,000 square feet with 260 units, is being offered below its assessed value of $57 million as per a valuation done in 2023. Marketing materials highlight that the existing tax incentive agreements with the city will be transferred to the new owner. Interested buyers must submit their offers to Newmark by October 17.
CBRE has announced that Farhan Kabani has joined their Debt & Structured Finance team as an Executive Vice President focusing on financing solutions for middle market and private clients across the country. Based in Dallas, Mr.Kabani brings his expertise of over seventeen years to procure debt and equity for commercial real estate assets such as single-tenant or multi-tenant properties.
JBL Asset Management from Florida has acquired Olmos Creek Shopping Center located in San Antonio through a loan from Morgan Stanley whose selling price remains undisclosed.The three parcels comprising this center have been valued at $10.15 million according to assessments made in 2023.Its anchor tenant is Planet Fitness.
Lion Real Estate Group (LREG), an investment firm specializingin acquiring value-add multifamily properties across various markets,today announced Loyal Proffitt’s appointmentas Presidentof Operations.Mr.Proffittwill oversee daily operations nationwidefor LREG’s portfolio.
