RangeWater Real Estate has recently divested the Cottages at Leon Creek, a former student housing project at UTSA that has been repurposed as single-family rental properties. According to Commercial Edge, Bow River Capital acquired the asset from RangeWater Real Estate and secured a $39.1 million acquisition loan from Delaware Life Insurance Co. The seller was represented by JLL’s Robert Arzola, Ryan McBride, and Robert Wooten while Jayme Nelson led the financing process with assistance from Brian Carlton and Leon McBroom.
Originally known as Aspen Heights, RangeWater purchased this property in 2021 before embarking on its conversion into a single-family rental community consisting of 284 units. The transformation was completed in 2023 after extensive renovations were made to individual units and common areas.
Situated on over 53 acres of land, Cottages at Leon Creek offers detached four-bedroom homes as well as attached two- and three-bedroom residences ranging in size between 1
