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Sep. 14, 2013

Wedgwood Senior Living Community Sold to Out-of-State Investor

By Anca Gagiuc, Associate Editor

Wedgwood Apartments, the North Central senior apartment community located at 6701 Blanco Road, has changed owners. The property is easy to reach from Loop 410 and U.S. Highway 281 and close to much of what San Antonio has to offer. 

The seller was Wedgwood Apartments LLP of Centennial, Colo., and the buyer is an out-of-state investor, reports San Antonio Business Journal. Mike Miller, Chris Ross and Will Caruth of San Antonio’s Hendricks-Berkadia office negotiated the transaction, and Michael Levell took care of the financing. The price was not disclosed.

Wedgwood is a high-rise residential complex built in 1965 and has 301 units divided into nine floor plans, including studio, one- and two-bedroom apartments. The amenities feature a beauty shop, restaurant-style dining or delivery, a fitness center, a mini grocery mart, club rooms, a pool & cabana, a fish pond & waterfall, a business center, on-site banking and a nature walking path. Rent prices start at $885 and go as high as $1,855 per month.

Hendricks-Berkadia is one of the largest real estate multifamily services firms in the country and represents the acquisition of Hendricks & Partners, a firm specializing in multifamily sales, marketing and research, by Berkadia Commercial Mortgage LLC, the joint venture between Berkshire Hathaway and Leucadia National. The merged firm now has more than 1,000 employees in 68 offices, offering one of the first fully integrated investment banking platforms in the industry.

Photo courtesy of Wedgwood Apartments.

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