River Asset Management is the owner of the 252-unit Mark at Parliament, located at 11721 Parliament, built in 1975 in north San Antonio. AMI has secured a Fannie Mae DUS/MBS loan with a rate of 7.75%. It has a 10-year term with a 30-year amortization. The loan-to-value is 78.16%. Debt service coverage is 1.28%.
Mark Parliament is 94% occupied. The property consists of 24 two-story buildings with one-, two- and three-bedroom apartments. Amenities include three pools, weight room, sauna, and two-story clubhouse with a party room. Located near a park, the property also has two lighted tennis courts and 24 garages.
AMI Capital, a nationwide mortgage lender focusing on loans for multifamily housing communities, has a portfolio of $1.7 billion. It operates regional offices in seven cities.
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