Deal closed on Éilan property

SAN ANTONIO – Éilan, the sprawling development across from The Rim shopping center, has a new owner. Lone Star Funds announced it has closed on a deal for the 120-acre mixed-use property with Wereldhave, the Netherlands-based company that developed the project.

The property is located on the North Side near I-10 and Loop 1604. Last year, Éilan was assessed at nearly $170 million, according to the Bexar Appraisal District.

The luxury development features 539 apartments, a 165-room hotel, more than 34,000 sf of retail space, and 205,000 sf of office space.

Studios and apartments from one to three bedrooms are available. The residential portion of the development is nearly 65 percent occupied. About half the existing office space is occupied, and there are two retail tenants.

Read more at the San Antonio Express-News.