Dec 23, 2017
$12M deal for Boerne apartments
BOERNE – BRT Apartments Corp. acquired The Woodland Apartments, a 120-unit multifamily property for $12 million, including a $9.2 million, ten-year floating rate loan with an interest rate of one month LIBOR...
BOERNE – BRT Apartments Corp. acquired The Woodland Apartments, a 120-unit multifamily property for $12 million, including a $9.2 million, ten-year floating rate loan with an interest rate of one month LIBOR plus 239 bps.
The firm also bought the adjacent 3.6-acre parcel that allows the option of adding an additional 68 units.
The Woodlands Apartments, built in 2007, are located at 150 Medical Dr. in Boerne, near San Antonio.
The potential 68-unit expansion, which would share the community’s existing amenities, including a pool, clubhouse and fitness center, is under review and not immediately planned.
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