Property type: Multifamily
Gateway Apartments was developed in 1988 as a 168-unit, garden style apartment complex comprised of 21 buildings, a fitness center, business center, clubhouse and sport court on a 17.3 acre parcel. Soma Capital acquired the note on the property from the special servicer and took fee-simple title. Soma Capital implemented an active management program, including bringing down units online and common area capital improvements before exiting in 2015.