The owner of the Robert E. Lee Apartments in San Antonio, has, in accordance with the Right of First Refusal (ROFR), provided proper notice of intent and requests that the Department find a qualified entity who will purchase the Development at or above the prescribed price. For the next 90 days, beginning February 14, 2025, the Robert E. Lee Apartments is being made available for purchase to qualified entities who will maintain the low-income provisions on the property. Per Appendix A of the Housing Tax Credit (HTC) Land Use Restriction Agreement for this property, the ROFR price of $4,350,000 is the fair market value for the property.
If your organization is in a position and would like to explore purchasing the Robert E. Lee Apartments, please review the property’s information at this link: https://public.tdhca.state.tx.us/pub/T_HF_CLEARINGHOUSE.display_property?v_id=260&v_cmd=inq. Further information, which will allow you to investigate the possibility of making an offer, is provided there. Interested buyers should coordinate with the owner’s representative to schedule a site visit and/or possible inspection of the property. Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place. The owner will have the choice of any offer at or above the posted ROFR price.
If you have any questions related to the ROFR process, please contact Rosalio Banuelos at (512) 475-3357 or via email at [email protected].
The 90-day ROFR period will expire at 5 p.m., Central Time, on May 15, 2025.
