REBusiness Online – Casoro Group Buys The Jax Apartment Community in San Antonio

SAN ANTONIO — Casoro Group, an Austin-based investment firm formerly known as The PPA Group, has purchased The Jax in San Antonio. The recently upgraded, 322-unit apartment community is located at 12222 Vance Jackson Road on the city’s northwest side. The purchase price was not disclosed, but Austin Business Journal reports the property traded for $90 million. Mark Brandenburg of JLL arranged a $35.5 million acquisition loan on behalf of Casoro. Nexbank provided the five-year, floating-rate loan. Units at The Jax feature a mix of one-, two- and three-bedroom floor plans ranging from 692 to 1,545 square feet. Community amenities include a swimming pool, courtyards with barbecue grills, children’s play area, 24-hour fitness center, clubhouse and a business center. CLEAR Property Management, an affiliate of Casoro, manages The Jax. The seller was not disclosed.

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