Located in San Antonio, Texas, RiverBend Apartment Homes is a newly renovated 200-unit property. Northmarq represented both the seller, Regional Investment and Management and the buyer Two Ten Management in this transaction. Mauricio Ramos of TwoTen noted that financing today’s market can be challenging: “Our capital stack includes debt capital with a 65% loan-to-value ratio; we then raise the rest of our equity from a pool of partners for down payments, capital expenditures, operating costs and other acquisition costs.” According to San Antonio Business Journal reports TwoTen raised about $7 million in equity capital for this purchase.
RiverBend Apartment Homes offers resort style amenities such as two pools with gated access to its community clubhouse playground basketball court picnic area courtyard onsite property management maintenance recycling storage space private patio/balcony brick fireplaces vaulted ceilings hardwood floors energy efficient appliances high speed internet access surface parking space among others.
