August 5, 2020
JLL Capital Markets closed the sale of, and arranged acquisition financing for, the Park at Rialto, a newly constructed, 274-unit, garden-style multi-housing community built by GenCap Partners in the northwest part of San Antonio. Financial terms weren’t disclosed.
A JLL team worked on behalf of buyer Covenant Capital Group to secure the seven-year, fixed-rate acquisition loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC., a Freddie Mac Optigo lender.
The JLL team that led the financing efforts on behalf of the borrower was led by CW Sheehan, Alastair Barnes and Scott Dickey. JLL’s team representing the seller was led by Sean Sorrell.
“Park at Rialto is a great acquisition for Covenant Capital Group, as they expand their portfolio in Texas,” Sheehan said. “The property offers excellent access to major employers and will benefit from the continued growth between Boerne and San Antonio.”
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