The deed is done! Air Force unlocks value of former Air Force housing units through public sale

  • Published
  • Air Force Real Property Agency Public Affairs
The Air Force continues to unlock the value of property at former bases with the recent sale of the Calgary housing units at the former Kelly Air Force Base, Texas.

Adam Antwine, senior representative at the Air Force Real Property Agency's San Antonio office, signed the deed for the housing units April 13, transferring the property into private ownership.

AFRPA sold the property, which served as base housing before Kelly closed in July 2001, through an online public auction supported by full color marketing materials and statewide newspaper advertisements. While the auction itself drew overwhelming interest from potential buyers, two bidders from California won with a bid of nearly $490,000.

"This value is especially high considering the sales slump normally affecting this type of property," said Bobby Roberts, chief of property management at AFRPA.

Antwine and his staff recorded the deed at the Bexar County Clerk's office in the name of Sigma Cal Investments Inc., a corporation formed specifically for the purchase and management of this property. Sigma Cal has completed renovations at several units on the property and is now starting to lease them to tenants.

The public sale of the housing units at Kelly is an example of the Air Force's effort to recover the value of real property at former Air Force bases. Proceeds from the sale will directly support the war fighter by being deposited in the Department of Defense's Non-Appropriated Funds account which funds morale, welfare and recreation activities.

Roberts credits the AFRPA team working together and providing the talents needed to market the property to a specialized market. He feels that the success of the public sale was a result of collaborative and timely efforts of all parties involved.