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June 6, 2022 1:00 PM

�ǿ�����app���� announces it has completed the sale and financing of Live Oak Place, a 308-unit value-add multifamily asset located in northeast San Antonio along the Texas Innovation Corridor. �ǿ�����app���� Senior Managing Director Jim Young, Senior Managing Director Matt Michelson and Director Chase Easley represented the seller, 29^th Street Capital, in the sale. �ǿ�����app���� Vice Chairman Matt Greer and Vice President Andrew Wilson helped arrange the acquisition financing on behalf of the buyer. Remarkably, this transaction marks the �ǿ�����app���� team’s third time selling this property, after prior transactions in 2018 and 2020. The buyer and sale price were undisclosed.

“Live Oak Place presented investors with an outstanding value-add opportunity at the major intersection of IH-35 & Loop 1604,” said Young. “The asset’s location along the booming IH-35 growth corridor attracted both private and institutional investors while offering residents a competitive residential option with convenient proximity to major employment and retail nodes. This asset will be an outstanding addition to the buyer’s growing Texas portfolio.��

Live Oak Place is a 308-unit, garden-style apartment community located at 13012 Oak Terrace Drive in Live Oak, Texas. The property features a mix of studio, one- and two-bedroom units with an average unit size of 668 square feet. Unit interiors feature fully equipped kitchens, tile surround tub/showers, large patios or balconies and vinyl plank flooring in select units. Community amenities include three swimming pools, clubhouse with coffee bar and Wi-Fi, laundry facilities and two dog parks. Approximately one-third of the units remain in classic condition, with another one-third having received partial upgrades, offering the new owner attractive value-add potential in completing upgrades to the remaining units.

Located in Northeast San Antonio, Live Oak Place benefits from a desirable location in proximity to some of the city’s major employers including the Randolph Brooks Federal Credit Union (RBFCU) headquarters, Randolph Air Force Base / Joint Base San Antonio (JBSA), Amazon, Rackspace, and Southwest Airlines. In addition, the property is proximate to an abundance of mixed-use, retail, entertainment and recreation destinations including Forum at Olympia Parkway, Live Oak Town Center, Northwoods, and multiple golf courses, resorts, and parks.

“Live Oak Place was financed by Fannie Mae through �ǿ�����app����’s Debt & Structured Finance platform in a time when rates were rising and due to the quick diligence from the borrower, they were able to make a quick decision and execute at a great rate,�� said Wilson. “This transaction illustrates continued investor appetite for multifamily opportunities in San Antonio and Texas.��

Following a record 2021, investor demand for multifamily remained robust during the first quarter of 2022 with $63.0 billion in U.S. sales volume, according to Real Capital Analytics data analyzed by �ǿ�����app���� Research. In addition to this volume signifying the largest first quarter on record, year-over-year volume accelerated 65.4%. Trailing twelve-month volume increased to $374.3 billion. Remarkably, major markets in Florida and Texas accounted for 27.3% of total volume over the past 12 months.

About �ǿ�����app����
�ǿ�����app���� Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“�ǿ�����app������), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. �ǿ�����app����’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, �ǿ�����app���� provides superior service to clients across the industry spectrum. �ǿ�����app���� generated revenues of nearly $3.1 billion for the twelve months ending March 31, 2022. �ǿ�����app����’s company-owned offices, together with its business partners, operate from approximately 170 offices with 6,300 professionals around the world. To learn more, visit nmrk.com or follow .

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