JLL Capital Markets announced that it has closed the sale of Jones & Rio, a 191-unit, 2017-vintage, trophy multifamily asset on the River Walk in San Antonio, Texas.
Conveniently positioned near the Pearl, a 23-acre mixed-use project, and just one block off the thriving Broadway corridor, the property boasts direct River Walk access, countless walkable urban amenities and proximity to prominent employers. In addition, Jones & Rio is one of only five Class A multi-housing assets in the Downtown submarket with river frontage.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Robert Arzola and Ryan McBride and Senior Managing Director Robert Wooten. JLL worked on behalf of the seller, Benefit Street Partners (BSP).
BSP is a leading credit-focused alternative asset manager with approximately $76 billion in assets under management as of December 31, 2023. The combined BSP-Alcentra platform has over 400 employees, including 170 investment professionals, in multiple locations across the globe. BSP manages assets across a broad range of complementary strategies, including private/opportunistic debt, structured credit, high yield, special situations, long-short liquid credit and commercial real estate debt and equity. BSP offers investors deep industry and structuring expertise, demonstrated credit discipline, access to sponsor and non-sponsor deal flow, and a 15+ year track record in the private credit markets. Based in New York, the BSP platform was established in 2008. BSP is a wholly owned subsidiary of Franklin Templeton.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
