San Antonio, TX, July 26, 2025
News Summary
PCCP has provided a $42 million senior loan to RPM Living to support the acquisition of Heritage Plaza, a modern apartment community in downtown San Antonio. This financing will enhance RPM Living’s portfolio and offer improved housing options in the developing area. The Heritage Plaza features 341 units, with extensive amenities including an expansive pool deck, fitness center, and ground-floor retail space, indicating a strong demand for quality rental units in urban locations.
San Antonio, TX – PCCP Provides $42 Million Loan to RPM Living for Heritage Plaza Acquisition
PCCP has issued a $42 million senior loan to RPM Living Investments to facilitate the acquisition of Heritage Plaza, a prominent apartment community located in downtown San Antonio. This financial assistance aims to bolster RPM Living’s portfolio while enhancing housing options in the rapidly developing area.
Heritage Plaza, situated at 227 Dwyer Avenue, consists of 341 units, categorized as Class A apartments, built in 2020. The community boasts modern finishes and various amenities designed to cater to its residents’ lifestyle. The structure spans five and six stories, making it a notable feature in the downtown landscape.
Of the 341 units, 307 are market-rate apartments, making up 90% of the total, while 34 units are below market rate, accounting for the remaining 10%. The apartment mix includes a variety of floor plans, with 18% of units being studio apartments, 68% one-bedroom units, and 14% two-bedroom units, ensuring a diverse range of options for potential residents. Each unit is designed with either a balcony or patio to enhance the living experience.
Prime Location and Amenities
Strategically located just one block from the San Antonio River Walk, Heritage Plaza offers residents easy access to this popular downtown destination. The property is not only visually appealing but also features several community amenities to promote an active lifestyle. Highlights include an expansive pool deck, an outdoor kitchen with a pizza oven, rooftop terraces, and a resident clubhouse, together with a fully-equipped fitness center. These offerings contribute to an inviting community atmosphere.
Furthermore, Heritage Plaza incorporates 4,600 square feet of ground-floor retail space, which is currently home to Kafe Krave, a café that transitions into a cocktail bar in the evening. This retail option adds convenience and entertainment to the community, making it an attractive place for both residents and visitors.
Background on RPM Living and PCCP
RPM Living is recognized for its innovative approach to residential development and management, with a growing presence in key markets across the United States. The acquisition of Heritage Plaza represents a significant addition to their expansive portfolio in urban residential communities.
PCCP, a well-known investment management firm, specializes in real estate loans, managing a variety of financing solutions for real estate assets. Their recent commitment to financing the Heritage Plaza acquisition underscores the ongoing development and enhancement of living spaces in major urban areas like San Antonio.
This loan is an indicator of the robust demand for high-quality rental units, especially within prime city locations, reflecting ongoing growth in the San Antonio housing market.
FAQ
What is the amount of the loan provided by PCCP to RPM Living?
PCCP provided a $42 million senior loan to RPM Living for the acquisition of Heritage Plaza.
Where is Heritage Plaza located?
Heritage Plaza is located at 227 Dwyer Avenue in downtown San Antonio, TX.
What are the unit types available in Heritage Plaza?
Heritage Plaza includes studio apartments (18%), one-bedroom units (68%), and two-bedroom units (14%).
What community amenities does Heritage Plaza offer?
Heritage Plaza offers amenities such as an expansive pool deck, outdoor kitchen, rooftop terraces, resident clubhouse, and a fitness center.
Key Features of Heritage Plaza
| Feature | Description |
|---|---|
| Loan Amount | $42 million |
| Location | 227 Dwyer Avenue, San Antonio, TX |
| Units | 341 total units |
| Market Rate Units | 307 units (90%) |
| Below Market Rate Units | 34 units (10%) |
| Amenities | Pool deck, outdoor kitchen, rooftop terraces, clubhouse, fitness center |
| Ground Floor Retail | 4,600 square feet with Kafe Krave |
| Year Built | 2020 |
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Additional Resources
- Express News: Devin Elder Probe
- Wikipedia: San Antonio
- News 4 San Antonio: Tren de Aragua Raid
- Google Search: San Antonio apartment market
- Multifamily Dive: Koontz Corp Purchase
- Google Scholar: San Antonio real estate
- Connect CRE: Iconic Highrise
- Encyclopedia Britannica: San Antonio
- Axios Local: Construction Slows
- Google News: San Antonio housing market
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