The Reserve at Lone Oak, a 200-unit community in south San Antonio, Texas, has changed hands. Northmarq facilitated the transaction on behalf of seller Encore Residential LLC, and also procured the buyer, GV&A Real Estate Investments.
In 2018, the property became subject to a $14.9 million, 35-year HUD loan, originated by Lument, Yardi Matrix data shows. The mortgage is set to mature in 2053.
Completed in 2014, the 12-building property features one-, two- and three-bedroom apartments, averaging 974 square feet, with in-unit washers and dryers, air conditioning, granite countertops and walk-in closets. The pet-friendly community includes a pool, fitness center, playground, clubhouse and grill area.
Located at 20005 Liedecke Road, adjacent to Interstate 37 and within 2 miles of Loop 1604, The Reserve at Lone Oak provides easy access to both San Antonio and South Texas. The property is within 4 miles of River Crossing Park and Braunig Lake Park, as well as other green areas.
The acquisition is part of GV&A Real Estate’s investment strategy to purchase recently built properties in growing submarkets, offering residents high-quality features at attainable prices, said the company’s Benoit Rochard, acquisitions & investor relations, in prepared remarks. GV&A has been actively expanding its Southeast portfolio. Last year, the firm paid $31.1 million for the 252-unit Timberlake Village near Nashville, Tenn.