SFO further expands its us multifamily housing program by acquiring 324 units in San Antonio, Texas
SFO Capital Partners is pleased to announce the acquisition of View at Encino Commons (“VEC”), a 95% occupied Class A multifamily housing community comprising of 324 units located in San Antonio, Texas. This latest acquisition expands SFO’s US multifamily housing footprint which currently stands at over4,400 units across 9 markets.
With a population of 2.3million, San Antonio is among the fastest-growing cities in the US, ranked second nationwide for population growth, and has evolved from being a Military City to a highly diversified economy.
Built in 2002, VEC is a partially-renovated property located in the North of San Antonio at proximity to key employment hubs, the city’s main Airport, as well as healthcare campuses and military bases. The property will also benefit from the extension of the nearby Highway 281, the main artery linking north San Antonio to the city center, enhancing the connectivity of VEC’s neighborhood to the city center and the rest of San Antonio.
Commenting on the transaction, Mohamad Abouchalbak, CEO of SFO Capital Partners, said: “We are pleased to further expand our US housing investment program with the addition of this new asset in San Antonio. This transaction is supported by our continued conviction in the strength and defensiveness of the US multifamily housing sector; further demonstrating SFO’s ability to acquire high quality assets in dynamic and growing markets.”
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.