Austin, Texas, March 22, 2022 (GLOBE NEWSWIRE) -- Casoro Group, a leading vertically integrated multifamily real estate investment firm based in Austin, Texas, announced today the closing of its recapitalization of Aviator at Brooks, a multifamily property in southeast San Antonio totaling 280 units.
Aviator at Brooks is a 13.5-acre complex located at 8010 Aeromedical Road in the thriving Brooks mixed-use community, developed through the Brooks Development Authority on the site of a former U.S. Air Force base. Since 2014, Casoro has been an investor in the renovation and development of Aviator at Brooks apartments, and this recapitalization enables an expansion of their investment.
“We are grateful to Brooks for being a great partner with us on the Aviator at Brooks property as well as for their tremendous success in developing and transforming the larger Brooks community into a vibrant and inclusive community,” Casoro Group CEO Yuen Yung said. “As we move into a long-term lease of the property and keep Aviator at Brooks in our portfolio, we look forward to continuing our contribution to the prosperity and growth for all who live, work, learn, play and stay in the community.”
Residents of Aviator at Brooks may choose units in either a renovated or a newly constructed building, with choices ranging from studio, one-, two-, and three-bedroom apartments and townhomes. The new modern units have high ceilings, wood-inspired plank floors, spacious closets, and high-end ceiling fans. The amenities include a modern club house with a coffee bar, a resort-style pool, fitness center, game room, barbeque/picnic area and bocce ball court. The property has easy access to The Greenline Park at Brooks and is conveniently located near the San Antonio River and I-37, with neighborhood amenities including hiking and biking trails, AMF Ponderosa Lanes, Mission Trail Baptist Hospital, Texas A&M University-San Antonio and many retail shopping destinations.
Aviator at Brooks is rich in history, as it incorporates adaptive re-use of a former U.S. Air Force barracks and dining hall with newly redeveloped buildings. Based on conversations with current residents, Casoro plans to implement light value-add improvements to the property, such as upgrading some appliances to stainless steel.
Casoro Group seeks multifamily investment opportunities for its family office, high-net worth, and institutional clients. The firm owns and manages multifamily properties throughout Texas. As a vertically integrated real estate investment firm and parent company of CLEAR Property Management and Upside Avenue multifamily REIT, Casoro is creating opportunities for investors to enjoy the benefits of multifamily real estate ownership.
About Casoro Group
Casoro Group is a 100% minority-owned, award-winning vertically integrated multifamily real estate investment firm. Our commitment is to provide Better Homes for Better Lives®. By taking a resident-focused approach to our multifamily communities, we improve the quality of life for our residents and increase the social impact of returns for investors. Championing the advancement of diversity, Casoro is also a Diversity in Action Signatory with The Institutional Limited Partners Association (ILPA); in addition to our work with ILPA, we have made our own strides in DEI and wealth inequality among minority youth and young adults with the launch of the Onyx Impact Fund and the Casoro Group Education Foundation in 2021, which work together to advance diversity in the commercial real estate industry. Our talented investment team has more than 100 years of combined experience in multifamily real estate acquisitions, ground-up development, and asset management. Our deep expertise in the areas that matter most to investors means we add value and capture the upside. To learn more please visit https://casorogroup.com/.
