Viking Capital has purchased the Villas at Sundance, a 252-unit rental community in New Braunfels, Texas for $37.5 million from NMS Property Services. The property was acquired with the help of a $24.2 million loan from Black Oak Capital.
The community, located at 2056 Sundance Parkway and built in 2012, sits on nearly 12 acres and features nine buildings. Amenities include a swimming pool, gym, pond and clubhouse with business center and lounge area.
To enhance the property’s value-add potential, Viking plans to invest $2.3 million in exterior upgrades such as private yard improvements and HVAC system updates as well as an average of $5
