LIVE OAK, TX-A joint venture comprised of Crossbeam WorkforceHousing Fund 1 and Concierge Asset Management has acquired MiraLoma, 378-unit apartment community. The JV bought the class Aproperty from Bryan, TX-based Godfrey Residential for anundisclosed amount.
Mira Loma, which is situated on 21 acres in suburban SanAntonio, is the second apartment property the JV has acquired fromGodfrey Residential. Last month, it purchased the 372-unitMelograno at Terra Vista in the Austin suburb of Round Rock.
Located at 7601 Gateway Blvd., Mira Loma was completed in 2009.At the time of closing, it was 94% occupied and 98% leased.
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