Hixon Properties Sells San Antonio Community
Newmark brokered the sale of the luxury asset.
Image courtesy of Newmark
Hixon Properties has sold River House, a 261-unit luxury community in San Antonio. Avita PM was the buyer, according to Yardi Matrix information. Prime Finance Partners issued a $41.7 million acquisition loan, the same data provider shows. Newmark brokered the sale on behalf of the seller.
River House had been under Hixon Properties’ ownership for 10 years, since it came online. The company developed the community in 2015 at 122 Roy Smith St., on a 3-acre site. River House comprises two buildings enclosing units with studio, one-, two- and three-bedroom layouts ranging between 527 and 1,465 square feet. The property was 95 percent occupied at the time of the deal. Shared amenities include an infinity pool, rooftop terrace, riverfront pergola and parking.
River House is located in less than 1 mile north of downtown, just off the interchange between interstates 35 and 37. The city’s art museum is across the street from the community, on the other side of the San Antonio River.
Newmark Multifamily Capital Markets Executive Managing Director Matt Michelson and Vice Chairman Patton Jones worked on behalf of Hixon Properties in the transaction.
San Antonio multifamily decelerates
During the first eight months of the year, San Antonio registered $149 million in multifamily investment sales, with 25 properties changing hands at an average per-unit price of $95,300, according to Yardi Matrix information. Both the total investment figure and the average price per unit were significantly lower than last year’s. Namely, from January through August 2024, the metro saw 30 properties trading at an average per-unit price of $111,529, amounting to $366.5 million.
At the end of 2025’s first quarter, San Antonio’s rent growth rebounded on a trailing three-month basis, up 0.1 percent to $1,254 in March, though still down on a yearly basis, a recent Yardi Matrix metro report shows. As of February, the city’s occupancy in stabilized properties dropped 50 basis points year-over-year, to 90.8 percent.
