Luxury San Antonio Community Changes Hands
- Apr 26, 2018
Accend Capital LLC has purchased The Flats at Big Tex, a 336-unit luxury community in the Southtown District of San Antonio, from Cleveland-based real estate company The NRP Group, which is recognized as a top 10 San Antonio apartment owner. According to Yardi Matrix, the property was developed in 2016 and is 83 percent occupied. ARA Newmark brokered the deal on behalf of the seller.
The property is located at 423 Blue Star, less than two miles from the city’s downtown. The parcel sits on the San Antonio River bank, facilitating bike and pedestrian access. Interstates 10, 37 and 35 are also within easy reach.
“The property fronts the San Antonio River Walk, giving residents easy access to miles of trails connecting Southtown to the CBD and beyond,” ARA Newmark Vice Chairman Patton Jones told Multi-Housing News.
The Flats at Big Tex comprises 28 studio, 211 one-bedroom, 91 two-bedroom and six three-bedroom apartments, with an average unit size of 848 square feet. Residences feature open-concept gourmet kitchens, energy-efficient appliances, with some units offering views of Downtown or the River Walk. On-site, resort-style amenities include:
- fitness center
- business center
- outdoor swimming pool and fire pit
- fourth-floor social lounge with downtown views
ARA Newmark’s team included Jones and Managing Director Matt Michelson.
Images courtesy of Ara Newmark and Yardi Matrix