INTERWEST CAPITAL ACQUIRES LARGE CLASS A PROPERTY IN SAN ANTONIO, TX
SAN DIEGO, CA – Interwest Capital Group, a prominent California based multi-family and hospitality investment firm, recently closed on the off market acquisition of Arrive Eilan, a high quality , multi-family community in San Antonio, Texas. Arrive Eilan, which has been rebranded to Paseo Residences at Eilan, was constructed in 2012 and is comprised of 539 residential units and 43.3k SF of retail. This asset marks Interwest Capital’s first acquisition in the San Antonio market and further solidifies the company’s expansion efforts in Texas.
Cushman & Wakefield has been identified to provide property management services. The acquisition was overseen for Interwest by Elliott Burrell & Chris Nesbitt.
Elliott Burrell, Interwest Capital’s Director of Acquisitions, described the investment as follows, “Arrive Eilan, or Paseo Residences as we now call it, presented the opportunity to acquire a flagship asset, built to uniquely high standards in one of the fastest growing markets in the US with attractive financing resulting from a loan assumption. The property is located in an idyllic neighborhood, with easy access to both employment hubs and entertainment” He added, “Increased cost of living in nearby Austin has driven businesses and residents to relocate to San Antonio. This has led to significant year-over-year rent growth in the San Antonio market from Q3 2021 to Q3 2022.”
Interwest Capital is a San Diego-based real estate firm with apartment communities and hotels throughout the US. Since its founding in 2003, the firm has executed transactions in excess of $2.1 billion in real estate. The company is headed by Alex Roudi.
