Berkadia Arranges Sale of 248-Unit Community
- Jan 04, 2018
Berkadia arranged the sale of Chroma, a 248-unit apartment community located in northwest San Antonio. The firm represented the seller, Flournoy Development Co. of Columbus, Ga.
Built in 2016, the three-building community occupies nearly seven acres at 5039 Hamilton Wolfe Road. The unit mix consists of one- and two-bedroom apartments averaging 825 square feet. Community amenities include a fitness center, business center, clubhouse, swimming pool, dog park, attached and detached garages and 384 parking spaces. Units feature washer and dryers, vaulted ceilings, hardwood style flooring, island kitchens, outside storage, and private balconies/patios. The asset is minutes away from Huebner Oaks shopping center, the University Health System and Methodist Hospital, and a short drive from McDermott Freeway and Connally Loop.
Berkadia’s Houston and San Antonio offices handled the multifamily deal. The professionals involved were Senior Managing Director Ryan Epstein, Senior Director Will Caruth, Managing Director Mike Miller, director Chris Ross and Associate Director Cody Courtney.
“We’re seeing an appetite for multifamily assets that are not only new, but that also offer exceptional locations in well-performing submarkets,” Epstein said in a prepared statement. “Investors are looking for properties that offer a range of high-quality amenities, as well as close proximity to major thoroughfares and employment hubs in the city.”
Images courtesy of Yardi Matrix