San Antonio Boutique Multifamily Sells Amid Record Pricing

San Antonio Commercial Advisors sold Sir Winston Villas Apartments, a 32-unit boutique community in Northcentral San Antonio. We snapped SACA managing director Brent Smith with the multifamily team—Scott Weems and Brandon Lo Porto. The transaction set a record sales price for 1980s construction. Scott says the San Antonio apartment market is pretty hot, and buyers are repeatedly pushing new record pricing on quality assets. (The duo just saw a sub-5% cap rate deal close!)

Scott says this transaction had a unique twist; most units at Sir Winston Villas (pictured) are leased as corporate suites, and he and Brandon looked for a buyer who could continue to operate it that way. (A California private investor won the deal.) Finding the right source of financing was key to making the transaction work, Scott says.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Austin - San Antonio Newsletters
Related Stories

Texas Flips Blue, Putting Data Center Boom On Notice

Suburban D.C. County Weighs Microhousing As Affordability Salve

Fannie Mae, Freddie Mac Rewrite Underwriting Standards For NYC's Rent Freeze

RealPage Antitrust Case Ends With Nearly $360M In Settlements For Renters

ZOM Living Entity Files For Bankruptcy To Fund Fight To Overturn $323M Judgment

Golden Apartment Building Sells For $62M To Chicago Company

New Student Housing Towers Lease Up Quickly In University City, But Developers Can't Build More

Nord Group's Lawyer Moves To Quit, Says Entities Can't Pay Him

Housing Completions Close To 40,000 As LDA Adds Major Site And CEO Departs

Voorhees Greenlights 178-Unit Office-To-Resi Conversion Amid Multifamily Boom

Battered Mortgage REIT Suspends Dividend To Preserve Cash

Tyko Capital Sets New Record For Florida's Largest Construction Loan