“SPI Advisory (SPI) and its partners finalized the acquisition of Riverbend Apartments (formerly known as Hawthorne Riverside), a 164-unit, Class A- institutional-quality apartment community built in 1995. The property is conveniently located between the San Antonio and Austin metros along the I-35 Corridor in the heart of New Braunfels, a booming submarket at the edge of the hill country showcasing two idyllic rivers, the Comal and the Guadalupe, which attract over three million tourists each year.
This acquisition comes exactly one month after SPI’s acquisition of Parkview Terraces (formerly known as Cortland Southpark Terraces), a Class A, 244-unit apartment community located in South Austin. SPI now owns and operates nine institutional-quality properties within the proximal submarkets of Austin, Kyle, and Buda, as well as 1,160 units in nearby San Antonio.”