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The NRP Group LLC Announces Sale of 300-Unit Multifamily Development in Thriving Brooks City-Base Area
May 2014

SAN ANTONIO (May 6, 2014) – The NRP Group LLC has announced the sale of a premier multifamily development, The Landings at Brooks City-Base. Developed by NRP in 2013 the stunning 300-unit apartment community boasts a desirable location near downtown in San Antonio’s rapidly growing Southside.

Pensam Capital, a distinguished Miami, Florida-based firm with considerable San Antonio history and knowledge, purchased The Landings for an undisclosed price. CBRE brokered the sale with ninety-eight percent of the property’s units leased.

Located in the dynamic and historical Brooks City-Base, The Landings has served as a catalyst for contemporary living in the Southside. In addition to ease of transportation, the development provides a 4,166 square foot hangar-style community center, wireless lounge, resort-style pool with scenic views and close proximity to name brand shopping, excellent dining and state of the art medical facilities. Apartment features include granite counters, stainless appliances and direct access parking.

“By attracting more residents to San Antonio’s Southside, The Landings has greatly contributed to the recent spike in development at Brooks City-Base,” said Seth Mendelsohn, Vice President of Investment & Asset Management for NRP. “The Landings represents a historic transition for this landmark location. The quality of service Pensam provides will further this growth and align favorably with The Landings community.”

The Landings is a component of a larger mixed-use development planned at Brooks City-Base, which includes public parks, retail, medical and office space development. Representing the most significant market-rate residential investment in San Antonio’s Southside, The Landings is a direct product of Brooks Development Authority and NRP’s vision for the area’s growth and renewal.

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