JLL Arranges Sale of San Antonio Community
- Dec 12, 2018
JLL Capital Markets has brokered the sale of Whispering Hills, a 164-unit multifamily asset in northeast San Antonio. According to Yardi Matrix data, Triad Real Estate Consulting Group sold the property to GVA Real Estate Investments. The transaction was subject to a $12.8 million loan held by Ready Capital.
Located at 13658 O’Connor Road, Whispering Hills is within 16 miles of downtown San Antonio. The asset is within walking distance of several dining and retail venues. Both interstates 35 and 410 are within a 10-minute drive.
Completed in 1983, the one-, two- and three-bedroom units average 903 square feet and are spread across 11 two-story buildings. Common-area amenities include two swimming pools, a fitness center, playground and two laundry facilities.
JLL capital markets experts Senior Vice Presidents Moses Siller and Zaro Haro lead the marketing and sales efforts of the property which was 93.3 percent occupied at the time of the transaction.
“The San Antonio multifamily market continues to see significant demand from investors,” Siller said, in a prepared statement. “The region’s continued job gains, strong fundamentals and overall quality of life are driving market activity. Add to that Whispering Hill’s accessibility to amenities and major employers, with the right capital improvements new ownership will be able to capitalize in the immediate and long-term.”
Image courtesy of JLL