Private Equity Firm Structures Capital for Apartment Acquisition
- Jul 10, 2015
By Anca Gagiuc, Associate Editor
A multifamily transaction has wrapped up in Northwest San Antonio. DPG Investments and affiliates announced it structured $2.1 million in limited partner capital, equating to approximately 95 percent of the required equity for the acquisition and renovation of Santa Fe Place, a 327-unit apartment complex. Additional information about the transaction has not been disclosed.
“Santa Fe Place represents the ninth multifamily property investment DPG has structured in Texas in the past year, in four metro areas,” said DPG chairman Dan Galvanoni. “DPG believes Texas and the southeast continue to be robust markets.”
Santa Fe Place was built in 1974 and offers studios, one-, and two-bedroom apartments. The community sits on seven acres located at 4210 Fredericksburg Road, 21 minutes away from San Antonio International Airport and close to employment centers and transportation corridors. Community amenities include swimming pool with picnic area, clubhouse, and courtyard.
“Santa Fe Place is the second apartment transaction with this operating team and DPG’s significant family office investor,” adds DPG managing director Joe Josep.