Electra America Snags 6th San Antonio Community

The company has purchased the 366-unit Firewheel Apartments, located in the North Hampton neighborhood. Berkadia's South Florida team arranged the financing.

After acquiring Pecan Springs, a 344-unit garden-style community, Electra America has purchased its second property in San Antonio this year, Firewheel Apartments. The company bought the asset from HPI Residential and this is now its sixth community overall in San Antonio.  

“Electra America continues to have great confidence in job growth and population growth in San Antonio,” Joe Lubeck, CEO of Electra America, told Multi-Housing News. “Firewheel is a great addition to our portfolio, where we can bring our new amenities and highly focused management to bear for the benefit of residents and partners.”

Firewheel Features 

Located at 6155 Eckher Road, the pet-friendly 366-unit community features one-, two- and three-bedroom floorplans ranging from 528 to 1,367 square feet, across 15 two- and three-story buildings. Electra America will carry out approximately $1 million in improvements at Firewheel, including interior renovations and amenity enhancements. 

Completed in 2014, the 93 percent occupied Firewheel features washer/dryers in all units, black appliances, above standard ceiling heights, high-speed internet access, walk-in closets, detached and direct access garages, granite countertops and private balcony/patios. Residents have access to amenities such as: 

  • pool with Baja shelf
  • outdoor grills
  • pet park
  • 24-hour fitness studio
  • clubhouse with gaming lounge and coffee bar
  • business center 

The community is surrounded by major employers, hospitals, universities and transit routes such as University Hospital/University Health System, USAA and Methodist Hospital. San Antonio International Airport and Downtown San Antonio are also only 20 minutes away.

Berkadia’s South Florida team arranged the financing on behalf of Electra America. 

Images courtesy of Electra America