San Antonio: Pure Multi-Family packs $117.5M TPC Portfolio in its knapsack

​​SAN ANTONIO – Vancouver-based Pure Multi-Family REIT will acquire two multifamily communities, known
collectively as the TPC Portfolio, for an aggregate purchase price of $117.5
million, or approximately $155,000 per unit.

The 416-unit The Towers at TPC San Antonio was delivered
last October at 4092 TPC Pkwy. in the Outer Far North Central Multifamily
submarket. The mid-rise community consists of one- to four-bedroom floor plans,
averaging 943 sf, across eight buildings on 19.4 acres.

The second community in the portfolio is The Mansions, a
344-unit apartment complex completed in 2007 at 22800 Bulverde Rd., also in San
Antonio’s Outer Far North Central Multifamily submarket. The garden-style
community consists of one- to four-bedroom floorplans, averaging 1,135 sf,
across 38 buildings on a 34.8-acre site.

The anticipated closing date is March 1, 2016.