SFO Capital Partners expands its footprint in San Antonio, Texas by acquiring an additional 300 multifamily units
SFO Capital Partners has announced the acquisition of Landings at Brooks City Base (“Landings”), a 96% occupied Class A multifamily housing community comprising of 300 units located in San Antonio, Texas.
This latest acquisition represents SFO Capital Partners‘ second multifamily investment in the San Antonio market, and marks its 16th acquisition in the US since launching its US housing program in 2015. To-date, SFO Capital Partners has acquired over 5,500 units across 13 markets.
Built in 2012, Landings is located in the South of San Antonio, a former Air Force area undergoing extensive mixed-use development. The property was developed on a long-term ground lease offering advantageous fiscal abatement. It also benefits from close proximity to major employment hubs including Toyota, Wells Fargo and Amazon’s new delivery stations the so-called “last mile” order fulfillment facilities.
Commenting on the transaction, Mohamad Abouchalbak, CEO of SFO, said: “We are thrilled to further enhance our significant multifamily housing footprint in the US with this latest acquisition in San Antonio, the second fastest growing city in the country with a total population of 2.3 million. We will continue to actively pursue the acquisition of stable, highly-occupied assets with solid cash flows located across the nation’s fastest growing metropolitan areas.”
About SFO Capital Partners: SFO Capital Partners is a London-based global real estate investor and investment manager, committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a select range of investment strategies including income-generating, value-add and development schemes. As of June 2023, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.2 billion in assets located primarily in the USA and Europe, including 7,000 apartments and more than 9.6 million square feet of commercial real estate under management.