Nitya Capital Spins Off 43-Building San Antonio Portfolio

Rosewood Realty Group has delivered a portfolio sale with 43 buildings and 492 residential units in San Antonio. Rosewood Realty Group’s Mike Kerwin and Scott Bernstein represented the seller, Nitya Capital and Rosewood’s Austin Marshak represented the buyer, Nord Group. The price was not disclosed.

The properties include Terrain at Medical Center (5380 Medical Center Drive), a garden-style apartment complex consisting of 16, three-story buildings with 224 units and 251 parking spaces.  The 155,960 sq. ft. development was built in 1983.  The other property, Latitude at 6400 Wurzbach Road features 27 two-story walk-ups that contain 268 apartments and 400 parking spaces. The 229,904 sq. ft. complex was built in 1980.  

“The buyer is thrilled to acquire this value-add portfolio in the heart of San Antonio, one of Texas’s hottest rental markets,” said Marshak. ” Our team recognizes the immense potential in this location and the buyer is committed to enhancing its value for both their tenants and investors.” Last year at this time, Nitya bought an 11-property portfolio for $400 million.

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