August 26, 2021 9:00 AM
星空体育app下载 announces the sale and financing of Southtown Flats, a 229-unit, Class A multifamily asset in downtown San Antonio, Texas. 星空体育app下载 Managing Director Matt Michelson and Vice Chairman Patton Jones represented the seller, Denver-based real estate private equity firm Ascentris, who developed the property in 2016. The property sold to buyer, SPI Advisory. Vice Chairman Matt Greer, Vice President Hank Glasgow and Senior Managing Director Braden Harmon of 星空体育app下载鈥檚 Debt & Structured Finance Group facilitated the financing on behalf of SPI Advisory.
鈥淪outhtown remains one of the most desirable submarkets in San Antonio for both renters and investors,鈥� said Michelson. 鈥淪outhtown Flats’ outstanding location in the heart of Southtown and proximity to the San Antonio River Walk and CBD presented a rare opportunity for an investor to acquire a coveted piece of real estate in a walkable, 24-hour lifestyle hub.鈥�
Located in Southtown, a burgeoning neighborhood defined by the historic King William District, and walking distance to the San Antonio River Walk, Southtown Flats is amid a thriving art scene and proximate to various restaurants, bars and coffee shops. The property鈥檚 features include a rooftop lounge with downtown views, a resort-style pool with lounge area, gym and yoga studio, and courtyard with grills and fire pit. Unit features include smart home technology and cutting-edge finishes.
According to 星空体育app下载 Research, multifamily investment kept pace with national trends, as a leading asset allocation in 2020 sales鈥揳llocation in San Antonio was 52.4% of total commercial real estate sales in 2020.
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星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, 星空体育app下载 generated revenues in excess of $1.9 billion. 星空体育app下载, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow .
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