SOURCE: Aragon Holdings

October 20, 2009 08:00 ET

Aragon Holdings Purchases Apartment Complex With 200 Units in San Antonio, TX

BEVERLY HILLS, CA--(Marketwire - October 20, 2009) - Larry Clark, president of Aragon Holdings (www.AragonUSA.com), announced that Aragon has completed the purchase of a 200-unit multifamily property located in San Antonio, Texas.

The property, Regatta Apartments, marks Aragon's fifth acquisition in the San Antonio market, bringing its holdings in the city to more than 1,000 units. Located in North Central San Antonio, the property is bordered by a private lake and the Northern Hills Country Club. All units feature wood-burning fireplaces, designer kitchens and other amenities. Regatta was acquired from one of the largest publicly traded REITs in the nation, which contractually cannot be identified. Terms were not disclosed.

Aragon Holdings has properties in San Antonio, Houston and Dallas, Texas, and is actively seeking to purchase additional properties throughout the Southwest region of the United States. Its operating strategy is to acquire infill multifamily properties that safely generate double-digit cash-on-cash returns.

"Although the national economy continues to struggle, multifamily housing continues to be an attractive investment arena," Mr. Clark said. "We feel this is an excellent time to be acquiring properties. As the economy rebounds and employment recovers, apartments will be in even higher demand, and we expect this sector to out-perform many other investment categories."

Aragon Holdings is a Real Estate Investment Company based in Beverly Hills, California that acquires and manages income producing assets throughout the United States on behalf of institutional and high net worth investors.

Contact Information

  • Contacts:

    Larry Clark
    Aragon Holdings
    310.550.5750
    Email Contact

    Alexander Auerbach
    Auerbach & Co. Public Relations
    800.871.2583
    Email Contact