San Antonio, TX (June 15, 2022) — Newmark announces the sale of ReNew at TPC, a 408- unit, value-add multifamily asset located in northeast San Antonio, Texas. The property traded from FPA Multifamily—a San Francisco-headquartered, privately held multifamily investment firm—to DB Capital Management, a private multifamily investment firm based in Playa Vista, California. Newmark Vice Chairman Patton Jones, Senior Managing Director Matt Michelson and Managing Director Andrew Dickson represented the seller in the transaction.

“ReNew at TPC presented investors with an outstanding value-add opportunity in the highly sought-after North San Antonio submarket,” said Jones. “The asset’s location near Stone Oak surrounded by affluent demographics and expensive single-family homes attracted significant private investor interest focused on contemporary upgrade opportunities.

ReNew at TPC will be an excellent addition to DB Capital’s growing Central Texas portfolio.” ReNew at TPC is a 408-unit, garden-style apartment community located at 5707 TPC Parkway in San Antonio. The property features a mix of studio, one-, two-, three- and four-bedroom units with an average unit size of 905 square feet. Unit interior features include nine-foot ceilings, hardwood-style flooring, kitchens with stainless steel appliances and granite countertops, and oversized walk-in closets. Community amenities include a pool with sundeck and lounge seating, grilling areas, clubhouse with resident lounge and executive business center, 24-hour fitness center, and fenced dog park.

The average household income within a one-mile radius of ReNew at TPC is nearly $120,000 per year, while 51.3 percent of this same population holds a bachelor’s degree or higher. The property is proximate to an abundance of major employers in the area, including the RidgeWood Park (home to Marathon Petroleum Corp.), Sonterra Medical Center, JP Morgan Chase
Corporate Center, Amazon, and the Randolph Brooks Federal Credit Union (RBFCU) headquarters. Surrounding retail destinations include Village at Stone Oak, Legacy, Northwoods, Sonterra Village and The Vineyard. Additional nearby attractions include multiple golf courses, resorts and parks, including JW Marriott San Antonio Hill Country Resort and Spa.

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 Newmark 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
Press Contact: Lizzy Mahan
t 303-260-4437
lizzy.mahan@nmrk.com

DigitalDesk, Inc leased 2,527 square feet at 8610 North New Braunfels in San Antonio, TX. Austin Brodeur represented the landlord, Hartman Income REIT.

San Antonio, TX (June 6, 2022) — Newmark 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. Newmark Senior Managing Director Jim Young, Senior Managing Director Matt Michelson and Director Chase Easley represented the seller, 29th Street Capital, in the sale. Newmark Vice Chairman Matt Greer and Vice President Andrew Wilson helped arrange the acquisition financing on behalf of the buyer. Remarkably, this transaction marks the Newmark 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 Newmark’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.”

Press Contact: Lizzy Mahan t 303-260-4437 lizzy.mahan@nmrk.com

JLL Capital Markets announced the closing of the sale of Corner Ridge Crossing, a four-building, Class A+, last-mile industrial park totaling 576,047 square feet in San Antonio.

JLL marketed the property on behalf of the seller, Hines. Leading global investment firm KKR acquired the asset through its Americas opportunistic equity real estate fund.

Completed in 2020, Corner Ridge Crossing is leased to a strong mix of national and regional tenants, including publicly listed multinational e-commerce and food & beverage companies. The property includes four industrial facilities: one cross-dock, one front-load and two rear-load buildings. Each building has clear heights of 28 to 32 feet, 28- to 60-foot dock high doors and truck courts ranging from 130 to 210 feet.

The buildings are located inside of the master planned Cornerstone Industrial Park which is in a strategic infill location in the San Antonio-New Braunfels metropolitan statistical area with immediate access to Interstate 10, Interstate 35 and Loop 410. These major throughfares provide access to four major cities in less than four hours, including Downtown San Antonio, Austin, Houston and Dallas-Fort Worth.

The JLL Industrial Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Trent Agnew and Dustin Volz, Director Dom Espinosa and Associates Josh Villarreal and Zach Riebe.

San Antonio, TX (June 2, 2022) — Newmark announces the sale of Alamo Park, a 309-unit value-add multifamily asset located in northeast San Antonio, Texas. The property traded from Achieve Investment Group—an Austin-based value-add multifamily investment firm— to River Rock Capital, a private real estate investment firm specializing in the acquisition and management of multifamily properties based in Lawrence, New York. Newmark Senior Managing Director Jim Young, Senior Managing Director Matt Michelson and Director Chase Easley represented the seller in the transaction.

“Alamo Park attracted robust interest from both private and institutional investors across the United States, as they were drawn to the asset’s excellent location and San Antonio’s growing economy,” said Young. “The property presented buyers with a compelling value-add opportunity in a submarket surrounded by prominent employment bases and retail areas.”

Alamo Park is a 309-unit, garden-style apartment community located at 2355 Austin Highway in San Antonio, Texas. The property features a mix of one- and two-bedroom units with an average unit size of 658 square feet. Unit interiors feature fully equipped kitchens, ceiling fans, walk-in closets, tile surround tub/showers and private patios or balconies. Select upgraded units feature vinyl plank flooring, vaulted ceilings and wood burning fireplaces. Community amenities include swimming pool, fitness center, picnic area with grills, volleyball court, covered parking and gated access. The asset was 94% occupied at the time of sale.

Located in Northeast San Antonio, Alamo Park benefits from a desirable location in proximity to some of the city’s major employers including Amazon, Rackspace, Southwest Airlines and Fort Sam Houston. The property is also proximate to an abundance of mixed-use, retail, entertainment and recreation destinations including Alamo Heights, The Quarry, Terrell Plaza, and multiple golf courses, resorts, and parks.

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 Newmark 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.