Sterling Real Estate Holdings Buys 145-Unit Texas Res Property

Sterling Real Estate Holdings, a joint venture between Barker Pacific Group (BPG) and Pacific Real Estate Partners (PREP), has acquired Chestnut Park Apartments, a 145-unit apartment complex in San Antonio. The property is situated in the Castle Hills submarket of North Central San Antonio and consists of 13 two-story buildings. Built in 1979, the garden-style apartment community offers studios as well as one- and two-bedroom units. The existing on-site amenities include picnic areas, a swimming pool, laundry facilities, a central garden courtyard and a tennis court. Sterling plans to invest over $1 mil into the property to improve and add new amenities, such as a fitness center and dog park, and to renovate the interior units. -----

Source: http://www.rentv.com/content/southwest/mainnews/news/21180