Oden Hughes Trades North San Antonio Apartments
- Jan 17, 2020
Oden Hughes has sold Lenox Stone Oak Apartments, a 312-unit luxury community in northern San Antonio, to a private investor via a 1031 exchange. New York Life Insurance Co. provided the buyer with a 20-year, $26.9 million fixed-rate acquisition loan, according to public records. Newmark Knight Frank represented the seller and secured the mortgage for the new owner.
Completed in 2017, the property comprises one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse and dog park. According to Yardi Matrix, the community was 90.1 percent occupied as of December.
Located at 1207 Agora Palms Drive on approximately 18 acres, the 12-building property is within 2 miles Baptist Children’s Hospital at North Central and Stone Oak Methodist Hospital. The community is near a large retail corridor at the intersection of State Route 1604 and U.S. Highway 281.
NKF’s Vice Chairman Patton Jones assisted the seller, while Managing Director Patrick Short secured the financing. In June 2019, Jones represented the seller of a 184-unit community in Austin, Texas.