SAN ANTONIO – (Realty News Report) – Sterling Real Estate Holdings, a joint venture between Barker Pacific Group and Pacific Real Estate Partners, has acquired La Fiesta Apartments in San Antonio. The 111-unit apartment complex, which has 68 two-bedroom units, is in the Alamo Heights submarket of northeastern San Antonio.
Sterling said in a press release that it is actively pursuing additional multifamily investments in Arizona, Texas and Nevada.
“We’re excited to continue pursuing the San Antonio market,” says Michael Barker, Principal at Sterling Real Estate Holdings and BPG’s CEO and Managing Director. “La Fiesta is in a great location, and we see an opportunity to maximize its value by repositioning and improving upon the property.”
La Fiesta is Sterling’s second San Antonio-area acquisition following its 2016 purchase of Chestnut Park Apartments in Castle Hills. It continues Sterling’s focus on investing in value-add, Class-B and Class-C multifamily assets throughout southwestern U.S. markets, including San Antonio, Austin, Phoenix, Las Vegas, and Reno.
Sterling Real Estate Holdings is a joint venture, formed by Barker Pacific Group and Pacific Real Estate Partners, which invests in value-add multifamily communities throughout the western and southwestern US markets.
Feb. 18, 2018 Realty News Report Copyright 2018