Investors Worried about San Antonio
March 18, 2015

Investors Worried about San Antonio

Multifamily investment sales are still going strong in San Antonio, but dropping oil prices have turned off the capital markets tap. We'll look into the health of the sector at Bisnow's annual San Antonio Multifamily Summit March 26register now!

Berkadia managing director Brant Smith, a panelist, says San Antonio's multifamily demand hasn't been materially impacted by the changing oil markets. But investors and landlords are worried about how the shale play will fare and have been making knee-jerk reactions. Brant expects a stalemate between buyers and sellers this year. However, cheap financing will still drive deals, and he expects things to break loose in Q3 or Q4 of this year. Come hear more from Brant and others at our event, starting at 7:30am March 26 at the Sheraton Gunter.

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San Antonio Apartment Tally On the Rise

San Antonio's multifamily market is ramping up significantly with more than 10,700 units in the works after delivering 4,800 units last year, says Austin Investor Interests' Robin Davis (center, between Michelle Fox and Janine Claycomb). She tells us that if developer expectations hold true, more than 8,000 of these will open this year, although a more realistic number would be about 6,000 to 7,000. Among the projects completed in Q1 (or near completion) include the 412-unit Legacy Brooks (pictured, below), the 336-unit Ventura Ridge, the 297-unit Thirty Oaks and the 252-unit Gardens of San Juan Ridge.

Even with the new units added last year, absorption remained positive in every quarter of 2014, she says. The average occupancy at the end of the year was 92% and the average effective rental rate was $1.01/SF. She tells us there were 66 multifamily properties traded in 2014 and volume decreased about 20% from 2013, yet the value of the traded assets was up 43%. The average sale price per unit was $102k, she tells us. What it all means is that the San Antonio market will continue to see much of the same growth in 2015, she tells us. The new unit additions will challenge occupancy during the slower quarters of the year but will continue to push rental rates up, she says. Once the latest wave of new units is completed, the market will continue to crawl steadily in an upward direction, she thinks. 

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Texas Ends 110-Year Management Contract
at The Alamo

The Texas General Land Office is terminating its contract with the Daughters of the Republic of Texas to run the Alamo, a role that DRT has held for the last 110 years, reports Texas Land Commissioner George P. Bush says in order to meet the ever increasing operational needs of the iconic property, the GLO wanted to move in a different direction; it plans to conduct a nationwide search for a company to manage the site, the report says. The contract will end on July 10. [MySanAntonio]

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Come Hear about San Antonio's Multifamily Boom

There's new development and transactions on the rise and that's why we're excited to bring you Bisnow's 4th annual San Antonio Multifamily Summit on March 26 (7:30am start) at the Sheraton Gunter San Antonio. We'll learn about the latest deals and who's building where as well as the resurgence of condos. Among the star-studded panelist are USAA's Hailey Ghalib, Lynd's Mike Lynd Jr and Embrey Partners' Robert Hunt. Save your place here


Chinese Investment Firm Eyes Cushman & Wakefield

The expected $2B sale of Cushman & Wakefield is still months away, but a Shanghai-based investment firm has emerged as an early front-runner to acquire the mammoth brokerage. Fosun International is reportedly in early talks to buy the firm, according to sources familiar with the negotiations.

Continue reading here.

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Negotiating Guidance
You Can Use Now

The art of commercial real estate negotiation is not easily taught in a book. That's why Bisnow Education offers One on One With David Adelman, featuring real-world insight and practical, applicable advice concerning our industry's most tricky component. Campus Apartments CEO David Adelman shares his knowledge and experience with host Peter Linneman, chairman of the Wharton School of Real Estate. The conversation presents usable information about buying, selling, vendor contracts and everything else that requires give and take. Also revealed is the biggest lesson David has learned, which may inspire all of your negotiating going forward. Find out exactly what negotiating is: Winning? War? Marriage? All of the above?

This video, and all of Bisnow's learning tools, are designed for understanding financial models and industry lingo at all professional levels. They'll also be a tremendous asset to your corporate training program. Group rates available. Find out more about our helpful videos (with more to come) by clicking here. Buy the entire set and receive this latest video for free by emailing Bisnow's Amelia Garland at


Doing Retail Business in DC, Maryland, Virginia?

Headed to ICSC's annual expo in Las Vegas this spring? If so, we hope you'll join our party for the Metro Washington DC region at the Wynn Hotel's incomparable Tryst Nightclub from 5:30 to 8:00 PM on May 18.

We're honored to announce that our supporting firms include these top retail players of the DC region:

Founding Partners
Acadia Realty Trust
ASB Real Estate Investments
Calkain Companies
Combined Properties
Cushman & Wakefield
Douglas Development
Federal Realty Investment Trust
JBGR Retail
McCaffery Interests
Miller Walker Retail Real Estate
Peterson Companies
Potomac Development
Roadside Development
Vornado/Charles E. Smith
Washington REIT (formerly WRIT)

Presenting Sponsors
Papadopoulos Properties

Founding Sponsors
Continental Title Group
Divaris Real Estate
Goulston & Storrs
Renaud Consulting
Rosenthal Properties
Shulman Rogers
Washington Gas
TEEL Construction
christopher consultants

More information? Please check out our event page, or contact

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