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Sep. 10, 2013

CBRE Manages Sale of Westover Springs

By Anca Gagiuc, Associate Editor

A Class A multi-housing community in northwest San Antonio has been taken off the market, as a result of successful representation by CBRE Central Texas Multi-Housing Group. Charles Cirar, Ryan Epstein and Michael Wardlaw represented the seller, while Jim Kirkpatrick and Jim Richards with CBRE’s Debt and Equity Finance Group arranged the financing for Westover Springs, located at 12105 State Highway 151. 

The seller was a joint venture between Carbon Thompson and an equity fund counseled by Prudential Real Estate Investors. The buyer was Steel Castle Property Partners LLC, but neither the asking nor the sale price has been made public.

“San Antonio continues to attract new capital as investors recognize the inherent strength and stability the San Antonio economy offers,” said Ryan Epstein, senior vice president of CBRE’s Multi-Housing Group, in a press release.

The property was built in 2012 and includes two- and three-story buildings housing 296 one-, two- and three-bedroom units varying in size between 583 and 1,305 square feet. Property amenities include a swimming pool, an outdoor fireplace and grilling area, a community center with kitchen lounge, game areas and a fitness center. Conveniences such as legendary golf courses, retail, restaurants, business and medical centers surround the area.

Photo courtesy of Westover Springs.

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