Source: MAA / #Multifamily #Apartments
MEMPHIS, TN - MAA announced that it has completed the acquisition of Haven at Blanco, an upscale 436-unit multi-family apartment community in San Antonio, Texas.
Haven at Blanco was developed in 2010 and is located just minutes from San Antonio's northwest job corridor, the city's largest employment sector. The community also has excellent access to major thoroughfares and is less than ten minutes from USAA, San Antonio's largest private employer, and the South Texas Medical Center, which is home to 45 medically-related institutions.
The Haven at Blanco community provides residents with a wide array of amenities including a private entrance gate, resort-style swimming pool with cabanas and heated spa, and both attached and detached garages. The apartment homes boast an average 1,063 square feet and offer nine foot ceilings with crown molding, walk-in closets and granite countertops in select units.
Commenting on the announcement, Al Campbell, EVP and CFO said, "We are pleased to be expanding our footprint in the San Antonio market. We believe our operating platform in this economically diversified area will generate attractive investment returns for our shareholders."
MAA is a self-administered, self-managed apartment-only real estate investment trust, which currently owns or has ownership interest in 49,264 apartment units focused on delivering full-cycle and superior investment performance throughout the Sunbelt region of the U.S.