San Antonio Value-Add Asset Changes Hands
- Oct 05, 2018
GVA Real Estate Investments has purchased Cordoba Apartment Homes, a 260-unit community in San Antonio, from Leuven Group. JLL Capital Markets brokered the transaction on behalf of the seller.
The 7.9-acre site is located at 7810 Callaghan Road, in the northern part of the city, just outside the Connally Loop (Interstate 410). The property, completed in 1974, is situated at the intersection of I-10 and I-410, offering easy access to nearby retail centers, as well as downtown San Antonio, which is roughly 8 miles away.
According to Yardi Matrix data, Cordoba encompasses 30 studio, 70 one-bedroom and 160 two-bedroom apartments. Common-area amenities include a tennis court, two swimming pools and 300 parking spaces.
The JLL team in charge of the sale included Vice President Moses Siller and Senior Vice President Zar Haro. Earlier this year, JLL secured acquisition financing for another property in San Antonio. The 150-unit Villa de Oro community is located in the southwestern part of the city.
“Cordoba offers an outstanding value-add opportunity for new ownership thanks to its great accessibility, projected rental rate growth and nearby retail,” said Siller, in prepared remarks.
Image courtesy of JLL Capital Markets