The Multifamily Group (TMG) recently sold Stone Oak Place Apartments on San Antonio’s Northwest Side for an undisclosed sum. The property was built in 1979 and consists of 263 units.
TMG senior advisor Bryce Smith worked with the seller and managing partner Jon Krebbs procured the buyer, Achieve Investment Group. Stone Oak Place is located on Interstate 10 just south of De Zavala Road. The property sits two and a half miles south of The University of Texas at San Antonio and one and a half miles north of USAA’s corporate office.
“Stone Oak was in forbearance and the seller needed us to find a buyer to assume the existing Fannie Mae loan,” said Krebbs.
Smith added, “Achieve Investment Group has a track record of closing quickly and improving a property’s operations. This was a great deal for everyone involved.”
Original Source at Connect Media