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Tradewind secures lease hold interest on Wurzbach Pkwy.Tradewind secures lease hold interest on Wurzbach Pkwy.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=229862019-08-26T05:00:00Z2019-08-27T22:00:00Z

​​​​SAN ANTONIO – Tradewind Properties has bought the lease hold interest in the 306-unit Upton at Longhorn Quarry apartments at 4906 Wurzbach Pkwy.

Instead of the buyer and seller exchanging the property's deed, Tradewind signed a 75-year lease on the complex. The property is owned by the San Antonio Housing Trust Public Facility Corp (PFC).

Ownership of the land and eventual ownership of the property after 75 years will revert to the PFC​​. 

In exchange, the developer and subsequent owners of the property don't have to pay property taxes as long as they offer half of the apartment's units to those making 80 percent or less of the area's median income.

The property was sold by its developer, The NRP Group. Berkadia represented the seller during the transaction. 

Built in 2017, The Upton's units average 982 sf and rent for an average of $1,340 per month.

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