Canadian REIT totes $117.5M to Cibolo Canyons in San Antonio

​​​​​SAN ANTONIO – Pure Multi-Family, a Canadian REIT based in
Vancouver, has agreed to acquire two multifamily apartment communities for a
combined price of $117.5 million.

The two properties are located at 22800 Bulverde Rd. and
4092 TPC Pkwy., both in the San Antonio submarket of Cibolo Canyons.

The Bulverde Rd. property was constructed in 2007 and
consists of 344 luxury residential units averaging 1,135 sf. The 34.8-acre
Class A community features a 13,000-sf clubhouse, 3,500-sf fitness center,
onsite spa, townhome buildings with attached garages, resort-style swimming
pool and barbecue areas with grills for outdoor entertaining.

The TPC Pkwy. property was constructed in 2014 and
consists of 416 luxury residential units averaging 943 sf. 

The 19.4-acre Class
A community provides views of downtown San Antonio and the neighboring TPC golf
courses. 

The acquisition is expected to close on March 1.