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July 17, 2023 9:00 AM

�ǿ�����app���� announces it has arranged the sale and financing of Signature Ridge, a 612-unit multifamily asset in San Antonio, Texas, adjacent to the South Texas Medical Center.

�ǿ�����app���� Vice Chairman Patton Jones, Executive Managing Director Matt Michelson and Managing Director Andrew Dickson represented the undisclosed seller. �ǿ�����app���� Vice Chairman Braden Harmon and Director Hank Glasgow arranged the debt financing on behalf of the undisclosed buyer. The transaction represents �ǿ�����app����’s fourth time selling this asset.

“Communities like Signature Ridge, in an ideal medical center location, are highly sought-after in the San Antonio market,�� said Jones. “The buyer jumped on this off-market opportunity and will apply their management expertise to create upside.��

Signature Ridge offers upgrade potential for both its interior and exterior amenities. The asset benefits from previous renovations to the clubhouse, fitness center, landscape and several interior amenities, with a total of 246 units having received an upgrade package to achieve above-average rent premiums when compared to classic units.

Located at 3711 Medical Drive, Signature Ridge includes a 24-hour fitness center, an on-site dog park, two pools and a clubhouse with a full kitchen and arcade area. Units include one-, two- and three-bedroom floorplans with walk-in closets, private patios or balconies and in-unit washers and dryers.

The residential community is centrally located within the South Texas Medical Center/USAA employment hub, San Antonio’s largest employment base, with over 76,000 employees in a three-mile radius, according to the U.S. Census Bureau in 2022. Other nearby employers include Hulu, Amazon and Valero Energy. Community residents further benefit from close proximity to the I-10 and I-410, allowing for convenient access around the city.

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. For the year ending December 31, 2022, �ǿ�����app���� generated revenues of approximately $2.7 billion. As of March 31, 2023, �ǿ�����app����’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow .

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