JV’s Focus on Value-Add Multifamily Pays Off

JV’s Focus on Value-Add Multifamily Pays Off

Sterling plans to invest in the property by improving landscaping and renovating interiors.

SAN ANTONIO—With a laser focus on class-B and -C multifamily assets, one joint venture finds value in the northeastern San Antonio market. Sterling Real Estate Holdings, a JV between Barker Pacific Group (BPG) and Pacific Real Estate Partners, recently acquired La Fiesta Apartments for an undisclosed price. The 111-unit apartment complex is situated in the Alamo Heights submarket.

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Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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