Kairoi Residential Acquires San Antonio Community
Newmark's multifamily capital markets team arranged the sale of the River Walk-area community.
Kairoi Residential has acquired The Flats at Big Tex, a multifamily community situated near the center of San Antonio, Texas, along the city’s River Walk.
Photo courtesy of Newmark
Featuring an address at 423 Blue Star St. in San Antonio’s coveted Southtown enclave, The Flats at Big Tex is a 336-unit property offering a mix of studio, one- and two-bedroom apartments. Features and finishes of residences include walk-in closets, nine-foot ceilings, storage space, wide plank flooring, floating bathroom vanities, ceramic tile bathroom floors, stacked in-unit washer-dryers, and patios or balconies.
Common-area amenities include a fourth-floor social lounge with downtown skyline views, a WiFi café, direct access to the River Walk, multiple bark parks, valet trash service, a cardio room, a work lounge, car charging stations, bicycle storage and repair station, an activity area with gaming tables and a demonstration chef’s kitchen.
Employment hub
The Flats at Big Tex is situated one mile from San Antonio’s central business district, providing quick and convenient access to leading area employers.
Among them are the corporate headquarters of supermarket chain H-E-B as well as Frost Bank, Geekdom, the University of Texas San Antonio and Methodist Hospital. Also proximate is the lively, historic and culturally significant Pearl District and San Antonio’s most popular dining, shopping, arts and entertainment venues.
Newmark Research reveals San Antonio’s multifamily market is recovering. A drop in excess supply, along with robust net absorption and an increase in occupancy in 2024 have all helped, as has job growth. A $500 million expansion by Toyota, growth of the technology and cybersecurity sectors, and a commitment to advanced manufacturing are among contributors adding to the city’s improving multifamily fundamentals.
READ MORE: News From San Antonio
Newmark’s multifamily capital markets team represented the undisclosed seller, while multifamily capital markets Vice Chairman Braden Harmon secured the financing on behalf of the buyer.Â
In a prepared corporate statement, a Kairoi official reported the acquisition fit the company strategy of investing in high-quality infill properties in high-growth markets. Last month, a $55 million rehabilitation project brought together two adjacent San Antonio affordable communities totaling 234 units.
