PCCP provided a $42 million senior loan to RPM Living Investments for the acquisition of Heritage Plaza, a 341-unit, Class-A apartment community at 227 Dwyer Ave. in downtown San Antonio, Texas.
Built in 2020, the property features modern finishes and amenities and is located one block from the San Antonio River Walk—one of the city’s most visited destinations, lined with popular restaurants, retailers, and entertainment options.
The five- and six-story property includes 307 market-rate (90% of unit mix) and 34 below market rate units (10% of unit mix). Its floorplans include studio (18%), one-bedroom (68%), and two-bedroom (14%) units. Units feature 10’ to 12’ ceilings, stainless steel appliances, kitchen islands, walk-in closets, and balconies or patios in each unit.
Parking is provided via a six-level parking garage. Community amenities include an expansive pool deck, outdoor kitchen and pizza oven, rooftop terraces, resident clubhouse, and a state-of-the-art fitness center. There is also 4,600 square feet (sf) of ground floor retail including Kafe Krave, a daytime café that transitions to a cocktail bar in the evening.
