News

August 17, 2015
Avesta Summit Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Avesta Summit (the “Property”), formerly known as Amesbury at Deerfield, in San Antonio, TX. The property closed on August 17, 2015 and is comprised of a 284-unit, class “B”, garden-style multi-family community, consisting of 22, two and three-story buildings with surface/covered parking. Atlantic Creek has partnered with a well-known and proven value add operator, who has experience in select high-growth markets across the Southeast and Texas. The investment plan is to reposition the property though extensive capital improvements of both the individual units and the common areas to take advantage of the strong economic and demographic trends of the San Antonio market.

The property is located within the North Central submarket of San Antonio and benefits from its excellent access to the city’s major employment hubs (USAA & Med Center), school systems, and retail hubs. It is also located less than three miles from the San Antonio International Airport.

Atlantic Creek, with offices in New York, NY, Palm Beach, FL, and Los Angeles, CA, targets direct and joint venture investments in opportunistic and value add office, retail, and multi-family commercial real estate primarily located on the East and West Coasts of the U.S., Texas and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Joshua Schwalbe, Senior Vice President, in our New York, NY office at (212) 381-7617 or Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.