McCann Realty Enters San Antonio Market, Acquires View at Encino Commons Apartments

   McCann Realty Enters San Antonio Market, Acquires View at Encino Commons
                                  Apartments

PR Newswire

RICHMOND, Va., DALLAS and SAN ANTONIO, Feb. 27, 2013

RICHMOND, Va., DALLAS and SAN ANTONIO, Feb. 27, 2013 /PRNewswire-USNewswire/
--McCann Realty Partners, LLC ("McCann" or "MRP") announced the acquisition
of the View at Encino Commons Apartments in San Antonio, TX. Built in 2001,
the 324-home, garden-style community located in San Antonio will be managed by
Pegasus Residential, LLC. Amenities at the property include an elegant
clubhouse with a fitness center, a resort-style swimming pool and a movie
theatre. The acquisition was funded in part by a seven-year Freddie Mac
mortgage loan with a fixed rate of 3.37 percent originated by Wells Fargo
Multifamily Capital.

"We have been targeting the San Antonio market for quite some time due to its
dynamic job growth prospects and strong business climate. The acquisition of
the View at Encino Commons allows us a point of entry. McCann plans to do a
modest interior and amenity upgrade to the property," said McCann's Chief
Investment Officer Brand Inlow. "The property is a low density "Big House"
product with attached garages. We believe rents will continue to grow for the
next several years and are actively looking to add more apartments in San
Antonio. The View at Encino Commons is located in one of San Antonio's most
vibrant growth corridors which really appealed to us."

McCann is currently seeking apartment acquisitions in the Mid-Atlantic,
Southeast and Texas. For more information, please contact Brand Inlow, Chief
Investment Officer, at (804) 290-8870 or Denise Fansler, Vice President of
Acquisitions, at (214) 363-6200.

McCann Realty Partners and its principals have decades of diverse multi-family
experience and a very strong reputation in the apartment industry. John
McCann was a former long-time CEO of UDR, Inc. and a past board member of the
National Multi-Housing Council. With offices in Richmond, Virginia and
Dallas, Texas, MRP teams with institutional capital sources to acquire,
develop, redevelop and operate apartment communities in the Southeast,
Southwest, Mid-Atlantic and adjacent regions. 

The Company is in the market continuously to acquire both Class A and
value-add apartment communities. MRP is also currently developing apartment
communities in Dallas, Houston and Orlando.

For more information about acquisitions, please contact Brand Inlow, Chief
Investment Officer, at (804) 290-8870 or Denise Fansler, Vice President of
Acquisitions, at (214) 363-6200. For more information about development,
please contact Mark Wood, Director of Development, at (214) 363-6200. Please
visit www.mrpapts.com.

Contact: Fleet Wallace, McCann Realty (804) 290-8870

SOURCE McCann Realty Partners, LLC

Website: http://www.mrpapts.com