Victorian Village. Image courtesy of JLL
GVA Real Estate Group has acquired the 170-unit Victorian Village in San Antonio from a local investor. The buyer took out an undisclosed loan from MF1, according to Bexar County records. The bridge financing is set to mature in 2022 and has a two-year extension option.
Located at 5315 Gawain Drive, the asset consists of studio, one- and two-bedroom apartments in 27 two- and three-story buildings. Completed in 1984, the property features common-area amenities such as a fitness center, spa and pool. Situated in a dense residential area, the property has quick access to Interstate 410 and is just 15 miles from downtown San Antonio. The community was 95.3 percent occupied in March, per Yardi Matrix information.
JLL Senior Vice Presidents Zar Haro and Moses Siller, along with Vice President Robert Arzola, worked on behalf of the seller in the transaction. The same brokerage team recently worked with GVA Real Estate Group in its acquisition of Parkview Apartments, a 224-unit community in Corpus Christi, Texas.