Epoch Residential Sells 308-Unit San Antonio Asset

The deal is the first time the 2015-built community has changed hands. Nationwide Life Insurance provided the buyer with a nearly $27 million acquisition loan.
Wiregrass at Stone Oak

Epoch Residential has sold the 308-unit Wiregrass at Stone Oak in San Antonio to Sherman Residential, Yardi Matrix data shows. Nationwide Life Insurance Co. originated a $26.9 million acquisition loan for the new buyer. The loan matures in 2024. The sale marks the first time the property has traded since opening its doors in 2015.

Located on 15 acres at 20303 Stone Oak Parkway in a growing residential area, the asset’s 14 three-story buildings are within 2 miles of several retail and dining options, less than 20 miles north of downtown San Antonio. The community comprises one-, two- and three-bedroom apartments with floorplans ranging from 668 to 1,285 square feet. Common-area amenities include a dog park, pool, fitness center and business center with a conference room. The property was 93.2 percent occupied in June, per Yardi Matrix.

The sale comes at the heels of another disposition for Epoch Residential. Last month, the company sold the 293-unit Maitland Station in Maitland, Fla.