Tryperion Closes First San Antonio Buy

SAN ANTONIO-Tryperion Partners, through its Real Estate Fund I LP, has entered the San Antonio area with it buy of the 252-unit Oakwell Springs apartments. The Los Angeles buyer teamed with Dallas-based Presidium Group on the buy, with plans to upgrade and reposition the property.

According to Tryperion’s Eliot Bencuya, his company had reached out to Presidium Group at the beginning of summer, 2013 to seek out potential transactions in San Antonio. Ultimately, Oakwell Springs, at 1946 NE Loop 410 provided a solid asset in an area with good economic fundamentals, “but not the same price premiums as coastal properties,” Bencuya tells GlobeSt.com. “We like deals that have some cash flow, as well as some opportunity to create upside. We want to make the assets in the communities they serve better.”