Texas Apartment Complexes Foreclosed Following Loan Defaults

Bridge Investment Group has taken control of two large multifamily properties in Irving and San Antonio.

Updated on Oct. 14, 2026 in Commercial

Texas Apartment Complexes Foreclosed Following Loan Defaults

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Bridge Investment Group foreclosed on the 248-unit Wythe Apartment Homes in Irving and the 376-unit The Archer in San Antonio this October. These actions affected properties previously acquired by Ashland Greene Capital and Rincon Capital.

Why it matters

Rising interest rates and tighter operating margins have created significant financial distress for owners of value-add housing projects. This trend reflects a broader cooling in the multifamily market as competition from new construction increases.

The foreclosures include the 248-unit Wythe Apartment Homes and the 376-unit The Archer. These assets were backed by loans of $26.5 million and $31.2 million, respectively.

The players

Bridge Investment Group

A real estate investment firm that provides capital for multifamily projects and manages distressed asset acquisitions.

Ashland Greene Capital

A real estate investment firm that focuses on value-add multifamily acquisitions and previously owned the Wythe Apartment Homes.

Rincon Capital

An investment firm that previously held ownership of The Archer in San Antonio.

Blackstone

A global alternative asset manager that recently processed significant foreclosures on multifamily portfolios in the Dallas area.

The details

The foreclosures occurred after the property owners failed to satisfy the terms of loans provided by Bridge Investment Group. These developments were fueled by a combination of elevated interest rates and increased competition from a surge in new multifamily supply. The Archer, located in San Antonio, includes 125 income-restricted units, while the Irving-based Wythe property was formerly involved in a now-discontinued tax benefit program.

• Ashland Greene Capital acquired Wythe Apartment Homes in 2021.
• Rincon Capital acquired The Archer in 2022.
• A tax benefit program used by the Wythe property was discontinued in 2025.
• Blackstone foreclosed on a large regional portfolio in June 2026.
• Bridge Investment Group foreclosed on the two Texas assets in October 2026.

The Home Front

These foreclosures mark a continued consolidation of multifamily assets across the state following a period of aggressive value-add investment. This trend underscores a shift in property ownership driven by high interest rates and the expiration of specific tax-incentive programs.

Residents of The Archer or Wythe Apartment Homes should monitor official communications regarding future property management or potential changes to lease agreements. If you are a tenant concerned about changes in ownership, ensure you keep copies of your current lease and payment history on file.

The takeaway

The current environment for multifamily housing remains challenging as owners struggle with debt service and market saturation. Renters living in properties under financial stress should prioritize maintaining digital and physical records of all signed lease documentation.