San Antonio Luxury Mid-Rise Changes Hands
- Jul 30, 2021
DeBartolo Development has sold Infinity at the Rim, a 310-unit luxury property in San Antonio. Aldon Management bought the 2018-built asset. Institutional Property Advisors worked on behalf of the seller and procured the buyer.
LGA Capital arranged the acquisition financing, originated by the Berkshire Group, Yardi Matrix data shows. The IPA team included Executive Managing Director Will Balthrope and Director Drew Garza.
Greystar is in charge of property management, according to the property website. Located within The Rim, a 1.8 million-square-foot master-planned mixed-use development, the mid-rise community sits on a 5-acre site at 18130 Talavera Ridge. Apartments include studios and one- to three-bedroom units averaging 997 square feet.
A rooftop terrace, infinity pool and outdoor amphitheater are among on-site amenities. Additional features include car charging stations for residents and guests, on-site car wash, valet waste and recycling service, and bicycle storage with a repair station.
Less than a mile east of Interstate 10 and 15 miles northwest of downtown San Antonio, Infinity at the Rim is in the vicinity of numerous dining and shopping venues. Nearby employers include Medtronic, Clear Channel, Harland Clarke and Valero Energy.
According to a recent Yardi Matrix report, the pandemic-induced volatility took a toll on the market, but San Antonio’s multifamily fundamentals are showing promising signs. And unlike 2020, when investors mainly targeted Renter-by-Necessity properties, this year recorded a shift in investor interest, as buyers increasingly focus on upscale properties.