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Luxury Apartment Community Aura at the Rim Breaks Ground in San Antonio

28 Jul 2014, 4:20 am

By Anca Gagiuc, Associate Editor

Northwest of San Antonio, a new luxury apartment community has broken ground. Aura at the Rim is being built by Dallas-based developer Trinsic Residential Group LLC.

The residential project stands four stories tall and encompasses 308 units; it is located within The Rim mixed-use development, near the intersection of Interstate 10 and North Loop 1604, providing proximity to shops, restaurants and entertainment, as well as surface parking and attached and detached garages.

“Northwest San Antonio is an area that is enjoying an exciting surge in commercial activity and employment opportunities,” said Adam Brown, managing director for Trinsic. “It’s got it all: premiere shopping venues The Rim and The Shops at La Cantera, major employers, world-class vacation destinations and more. Aura at The Rim is perfectly positioned to give residents easy access to the best of the region. The site is elevated nearly 50 feet above the rest of the development, so it will afford residents spectacular views of the Hill Country and distant downtown San Antonio.”

The residents will be given the choice of one- and two-bedroom apartments, featuring custom cabinetry, granite countertops with a glass linear backsplash, stainless steel appliances, faux wood floors and accent walls. Community amenities include a state-of-the-art fitness center with spin room and a stretching area for yoga, a full-service resident lounge connected to a resort-style pool, an outdoor fire pit, and grilling areas.

“We’re thrilled to be giving residents one of the finest luxury apartment options in the area,” added Brown. “Aura at The Rim will be a truly exceptional multifamily community.”

Berkadia Commercial Mortgage Arranges $13.2M for Acquisition of Two San Antonio Properties

19 Jul 2014, 3:12 am

By Anca Gagiuc, Associate Editor

Two properties located in and near San Antonio have been acquired with financing from Berkadia Commercial Mortgage LLC. The loans, totaling $13.2 million, were arranged by company senior vice president Andy Hill.

Marriott’s acquisition of Fairfield Inn & Suites in New Braunfels had secured $6.7 million in financing through CMBS lender Basis Investment Group LLC; the loan spans more than 10 years, at a fixed rate. Built in 2010, the property has 89 rooms and suites to offer to its guests. Fairfield Inn & Suites by Marriott is located at 1465 N. Interstate Highway 35, convenient for both business and leisure purposes, with several tourist destinations, including Schlitterbahn Waterpark, Texas State University and Canyon Lake.

The other $6.5 million originated in interim financing for the acquisition and repositioning of an apartment development in southeast San Antonio. The loan spans more than three years, non-recourse, featuring future funding options for upgrades to the property. The apartment complex has more than 200 studio, one- and two-bedroom units, with 98 percent occupancy. Among the amenities are a swimming pool with hot tub and sundeck, a clubhouse, and several outdoor barbecue areas.

“The San Antonio area continues to enjoy a stable economy and steady job growth. Over the next few years, job growth in San Antonio is forecast to be nearly twice the national average, leading to increased market appetites for strong real estate investments in the region,” said Hill. “Berkadia has the tools, expertise and relationships necessary to meet this demand and secure customizable financing options for a wide variety of projects.”

La Cantera Hill Country Resort Announces Multimillion-Dollar Makeover

12 Jul 2014, 5:15 am

By Anca Gagiuc, Associate Editor

San Antonio — with its stable and diverse economy, fast-growing manufacturing and strong military investment, medical providers and energy industries, and flourishing tourism industry with more than 26 million visitors annually — demonstrated how it is possible to dodge recession. To keep up with the growing demand, the hospitality sector is highly attentive to client satisfaction, thus improvement works are part of the blooming industry.

After several months of planning, La Cantera Hill Country Resort, managed by Destination Hotels & Resorts, has finalized the multimillion-dollar transformation plan that will impact its entire 250-acre footprint. The plan will constitute the most extensive upgrade the resort has received since its opening in 1999.

The plan consists of the construction of a new, freestanding destination spa, contemporary pools and family areas. The San Saba Courtyard is scheduled to get a complete redesign, including a new event lawn. The front entrance will be reconfigured, as well as the lobby and lobby bar. A junior ballroom, expanded meeting and convention space, an dredesigned restaurants, bars and lounge concepts will also receive a facelift.

“Because the magnitude and impact of the project will prevent our associates from providing our guests with our customary offerings and services, the resort will suspend overnight accommodations and restaurant operations during the major phase of construction, from Nov. 3, 2014, through early April 2015,” said resort Vice President & Managing Director John Spomer.

Both golf courses and their clubhouses and event venues will remain open and operate as usual during renovation.

Photos courtesy of La Cantera Hill Country Resort.

Presidium Group Acquires Sentinel Pointe in San Antonio, Quarters in Dallas

4 Jul 2014, 4:55 am

By Anca Gagiuc, Associate Editor

Presidium Group LLC continued its series of investments in the state of Texas with the recent acquisition of two additional residential communities in the state of Texas: Sentinel Pointe, a 91-unit apartment complex located in midtown San Antonio, and Quarters, a 208-unit property in Dallas.

Both multifamily communities will undergo interior and exterior renovations, including new unit fixtures, plumbing, lighting fixtures and appliances, and a new color scheme. The exterior upgrades will consist of improvements to the buildings, the amenities and common areas, and the leasing center. Additionally, both will be rebranded, and Quarters will get new signage and new Hardie siding and paint.

“This acquisition is ideally positioned to take advantage of the current transformation in midtown San Antonio,” said Presidium co-CEO Cross Moceri about Sentinel Pointe. “With our planned value-add renovations, the property has tremendous upside potential.”

Sentinel Pointe is located in one of San Antonio’s prosperous submarkets, with significant growth over the past three years. Its position close to the Pearl Brewery development’s new restaurants, retail centers, farmers market and culinary school makes it convenient for residents. Entertainment and relaxation areas are also nearby, including San Antonio’s Childrem Museum, Brackenridge Park and the River Walk, with two major universities completing the scene: University of the Incarnate Word and Trinity University.

In addition, “Quarters is a well-located asset that nicely complements our multifamily portfolio in the Dallas area,” said Presidium co-CEO John Griggs. “The property has tremendous upside potential, and with value-add renovations we can reposition the asset within its submarket.”

Quarters is located in the north submarket of Dallas, easily accessible from the Northwest Highway and U.S. Highway 75. The neighboring area offers a retail scene and a growing restaurant. The community’s amenities feature a swimming pool, laundry facilities, a clubhouse and a business center.

CBRE Announces Sale of Villa Rosa Medical Plaza in San Antonio

29 Jun 2014, 4:02 am

By Anca Gagiuc, Associate Editor

Villa Rosa Medical Plaza in San Antonio has changed owners. The seller, L&B Realty Advisors LLP, was represented in the transaction by Chris Bodnar and Lee Asher, from CBRE Group Inc.’s U.S. Healthcare Capital Markets Group, and Scott Herbold and Todd Mills from its San Antonio office. The buyer is American Healthcare Investors, but the amount remains undisclosed.

The three-story medical office building was built in 2010; it encompasses 68,402 square feet and is located on the CHRISTUS Santa Rosa Medical Center campus under a long-term ground lease. The property features a covered porte-cochere at the main entrance and 289 surface parking spaces for physicians and patients, of which 16 are covered. Lush green landscaping surrounds the medical villa, and a lily pond with fountain creates a soothing area for patients.

“The Villa Rosa Medical Plaza on the CHRISTUS Santa Rosa medical center campus was very well received in the market,” said Herbold. “In addition to having on-campus credit tenancy, it is well positioned as the only newer medical office building in the South Texas Medical Center, with first-generation shell space on large, efficient floor plates.”

The building is located within the 900-acre South Texas Medical Center, the largest concentration of medical centers in San Antonio: It includes 13 hospitals; the University of Texas Health Science Center; and medical, dental and nursing schools.

CBRE’s U.S. Healthcare Capital Markets Group has significant national transaction experience with healthcare real estate investments and financing. The group has completed more than $2.5 billion in healthcare sales and debt sourcing transactions since 2007.

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