Kairoi Residential has acquired two garden-style multifamily communities -- Boulevard at Sonterra, a 2000 vintage, 326-unit property in San Antonio, and Cameron Creek, a 1985 vintage, 446-unit property located in Fort Worth -- in separate transactions during 2020. With these two acquisitions, Kairoi has continued to execute on its strategy of acquiring institutional quality multifamily properties with assumable Fannie Mae and Freddie Mac loans.
"We are pleased to continue to execute our strategy of purchasing well-located loan assumption projects in our target markets," said Kairoi President of Acquisitions Madison Marceau. "Both Boulevard at Sonterra and Cameron Creek provide tangible upside through strategic renovations and hands-on management."
Boulevard at Sonterra is located at 210 East Sonterra Boulevard in close proximity to North Central Baptist Hospital, Stone Oak Methodist Hospital, and other employers in healthcare and professional services. Boulevard at Sonterra is also close to premium grocery chains like Whole Foods, Trader Joe's, and Costco in San Antonio's upscale Stone Oak neighborhood.
Cameron Creek is located at 5209 Bryant Irvin Road in close proximity to Chisholm Trail Parkway, Interstate 20, and Highway 83 while also being less than 15 minutes away from shops, dining, and entertainment that are part of Fort Worth's famous Texas charm.
Both assets will undergo several renovations in the coming months to modernize the overall aesthetic and functionality of both interior units and common areas. Kairoi plans to improve these assets by refreshing exterior paint, enhancing the landscape plan, and improving the overall experience for the residents and the community. The one, two, and three-bedroom units at both properties will include certain appliance upgrades. The amenity spaces will all be updated with modern interior design and upgraded features.
ABOUT KAIROI RESIDENTIAL
KAIROI RESIDENTIAL is a partner-led company with a unified approach to acquiring, developing and managing multifamily communities. Kairoi has been involved in the business of acquiring and developing multifamily properties since 2002. Over the course of our existence, we have acquired or developed in excess of 60,000 units in many cities and states across the country. Kairoi Residential has transacted on approximately $6.3 billion of multifamily properties across the country.
For more information, please visit www.kairoi.com.
Press Release Service by Newswire.com
Original Source: Kairoi Residential Completes a Pair of Agency Loan Assumptions in 2020
