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Press Releases | June 18, 2021
SAN ANTONIO, Texas – National Church Residences has expanded its affordable senior housing in south central Texas with the acquisition of Westminster Square Apartments in San Antonio. The organization purchased the property on May 19, 2021, from Pilgrim Allena Housing Development Corporation. Built in 1980 under the HUD 202 program, Westminster Square is National Church Residences 32nd community in Texas and the third community in the San Antonio metro area with additional plans for growth.
“We are excited to once again expand our portfolio in the great state of Texas,” said Director of Senior Housing Acquisitions, Daniel Patrick. “Our immediate improvement plans will enhance Westminster Square with the long-term goal of preservation, enhancing the quality of life for current residents and maintaining this affordable senior housing within the San Antonio area.”
With 107 units in its three-story complex, Westminster Square serves seniors age 62 and older, offering studio, one-bedroom and two-bedroom apartment homes. Amenities include, van transportation, a pet park, on-site laundry, multiple elevators and a service coordinator to assist residents by identifying needs and connecting them with area providers. Westminster Square is located at 1838 Basse Road, with nearby shopping and restaurants.
“In looking for a prospective buyer we were contacted by six organizations indicating an interest in purchasing Westminster Square and we found National Church Residences to be a perfect match,” said William Lucks, president of the board of directors for the Pilgrim Allena Housing Development Corporation. “Both organizations are dedicated to serving residents and giving them a safe and comfortable community for seniors to enjoy.”
National Church Residences also will manage the community, taking over management from Capstone Real Estate Services, Inc.
The acquisition was financed with a new Lument FHA loan and company equity. “We are very appreciative to collaborate with National Church Residences on the acquisition financing for Westminster Square,” said Tyler Probst, vice president with Lument in Columbus. “By working with HUD and utilizing its FHA loan program, we were able to obtain favorable acquisition financing that bolsters National Church Residences’ continued efforts to preserve and enhance vital affordable housing in the city of San Antonio, the state of Texas, and throughout the country.”
Lucks added, “Working with National Church Residences over the last two years has been a warm, confident and fulfilling journey.”
About National Church Residences
National Church Residences serves more than 42,000 seniors through its array of housing and health care services. The not-for-profit organization is driven by a vision of advancing better living for all seniors, enabling them to remain home for life. With 340 communities in 25 states, it is the nation’s largest not-for-profit provider of affordable senior housing and the largest manager of service coordinators. The organization also offers residential senior communities, home and community-based services, as well as permanent supportive housing for the formerly homeless and disabled. For more information, visit us at NationalChurchResidences.org and follow us on Facebook, Twitter and YouTube.
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