SAN ANTONIO - Dallas-based Trinsic Residential is on its way toward its third multifamily project in San Antonio, having bought a 23.4-acre site on the city's far west side.
The developer already secured a $27.7 million construction loan through Texas Capital Bank.
The land acquisition by Trinsic Residential follows the company's pattern—the first in Northwest San Antonio and to the southwest on Loop 1604.
Trinsic is a relative newcomer to the San Antonio market, but it landed a win with its 308-unit Aura at the Rim.
According to Real Capital Analytics, the developer bought the 11.2-acre site of Aura at the Rim at 18102 Talavera Ridge in February 2014 for $5.8 million.
The development budget for Aura at the Rim was about $39 million.
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