Residents Still Flocking to San Antonio
March 4, 2015

Residents Still Flocking to San Antonio

Leasing velocity is surprisingly strong in San Antonio's multifamily market, with the cold, wet winter and reduced drilling activity causing only a slight dip in absorption.

San Antonio Commercial Advisors senior director Scott Weems just opened Legacy Brooks, a 412-unit property on the southeast side of town, and says the property has leased over 100 units since November. That's some solid activity for the slower winter months, and he's expecting a pickup in April. There's been a slight slowdown in traffic from oilfield workers, but there are still a good number of those residents leasing, Scott says. Next, he'll turn his attention to the Northwest—he's breaking ground next month on Legacy Flats, a 310-unit community at 1604 and Shaenfield.

Things are looking bright on the investment sales side, too. Scott and senior director Brandon Lo Porto just completed the sale of Cotton Crossing (pictured), a 118-unit, Class-A community. It got close to record pricing for its vintage (2000s), Scott says, because lots of investors were drawn to the property's quality, upside potential, and location in New Braunfels (a very strong market). A Californian private investor won the deal. Scott tells us that we'll continue to see property valuations rise since there's excellent debt available.

  Share: Email Facebook Twitter LinkedIn  
CohnReznick (Field) RA/S
Kudela (SAProud) A/S
CohnReznick (Field) A/S

Top stories on

5 Takeaways about the Oil Market Video of the Day: Freddie Mac's 2015 Multifamily Housing Outlook
Consumer Spending Continues To Fall CEO Survey Finds Renewed Optimism in Sales, But Hiring Stalls

Behind the Deal:
Highland Resources' Lamar Central

After owning the 45k SF Lamar Village shopping center since 1982, Highland Resources saw an opportunity to capitalize on the location's walkability at the corner of 38th and North Lamar Boulevard, says Highland VP David Bodenman. The plan: raze the shopping center and build a four-story, 165k SF office and retail development with more than 132k SF of column-free office space with an additional 33k SF of retail and restaurant space. David (left, with investment officer Welden Johnson at the construction site) says the transformation is designed to meet market demand for expanding businesses.

Kendra Scott Design is consolidating its corporate HQ into 44k SF (the entire fourth floor) of Lamar Central. KSD will also lease an additional 1,500 SF on the ground floor to open a flagship Austin retail location (its 37th retail location in the US). David is also seeing interest from out-of-town companies as well as local employers looking to attract young, qualified talent that wants to be in this vibrant neighborhood. And he's seeing interest from legal, financial and real estate firms with some interest from tech and software firms. This intersection is a proven successful retail corner, David tells us, noting that they're in discussions with numerous retailers and restaurants. The space is leasing for an Oct. 1 opening.

Here's the gang from the project team (which includes Highland Resources, Rogers-O'Brien Construction, STG Design, Consort, Studio dwg, Chioco Design, American Realty Project Management, BSA LifeStructures, CBRE and Oxford Commercial) at the topping out ceremony a few weeks ago. David tells us Highland is also working on 620 Highland Horizon, a 200-acre residential and commercial project near Round Rock Hospital. It's already through two stages of single-family residential development and into the next two stages putting down utilities for a large commercial mixed-use development. The project will end up with 600 single-family homes and about 15 or 16 buildings of medical or retail use, he says. The firm also owns and leases the Southwest Tower downtown as well as Oak Hill Shopping Center and other parcels that will continue to be developed. 

  Share: Email Facebook Twitter LinkedIn  
Xceligent (Knows) A/S
REFM (Valuate) A/S

Meet the Credit Suisse Mafia
Some of Real Estate's Most Powerful Financiers

In 2009 the rug was pulled out from under Credit Suisse as legal troubles spawned a mass exodus. But that didn't destroy the global financial services juggernaut's strong network. In fact, several went on to make quite a splash in the industry. Here's a look at some key players then and what they're up to now:

1) Steven Kantor

Then: MD in charge of all leverage finance

Now: Co-Founder of CCRE and CEO of S2K Partners

Son of Edwin Kantor, he apparently rides around Manhattan in a customized, chauffeured Mercedes Sprinter with a built-in office, massage chairs and two big-screen TVs. Steve had a meteoric rise at Credit Suisse where he was in charge of real estate finance and securitization and eventually running global real estate investment banking. In 2006 he was put in charge of all leverage finance. After leaving Credit Suisse, he hopped on board Cantor Fitzgerald, where he became one of three co-founders of Cantor Commercial Real Estate (CCRE). Now inactive at CCRE, he and his father have their own company, S2K Partners, a private equity firm that invests in media, entertainment and leisure. He notably joined forces with American idol creator Simon Fuller to bid on the $400M-plus Standard Hotel last year.

Click here to see the rest.

Bisnow (RawSpace-Crowd)

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


Do You Do Retail Business
in the Washington, DC area?

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

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

Tell Us

It feels like deja vu all over again. and