Sherman Residential Acquires Texas Property
- Nov 18, 2020
Sherman Residential has acquired Avenues at Creekside Apartments, a Class A multifamily community in New Braunfels, Texas. The rapidly growing submarket between San Antonio and Austin is attracting major employers planning to add more than 1,000 jobs.
Avenues at Creekside is a 32-building property featuring 395 apartments in a range of configurations from one- to three-bedrooms, with the option of four-bedroom townhouses and multi-level floorplans. Apartments feature vaulted ceilings, direct entry, attached garages or assigned carports, private patios or balconies and high-speed Internet access. Among the leading common-area amenities is a newly-renovated clubhouse with business center. The apartment community was constructed in 2013.
Residents benefit from a convenient location. They have access to top employers in both downtown San Antonio and Austin, as well as in New Braunfels where PNC Bank and Continental Automotive are expanding and adding hundreds of jobs.
The apartment community is within 12 minutes of three major shopping centers. Texas State University in San Marcos is a 23-minute drive. Parks and recreational opportunities in the area include McKenna’s Children’s Museum, San Marcos Aquatic Resources Center, Wonder World Park and San Marcos Nature Center, all 13 to 22 minutes away.
In a statement, Sherman Residential noted the acquisition represents a continuation of its long-term commitment to the Austin-San Antonio-area multifamily market. The company anticipates expanding its portfolio of apartment properties in the market in coming years.
“We were fortunate to have the support of our greater Sherman Residential team from our four San Antonio properties, as we navigated this deal during a time of travel restrictions,” Scott Gould, Sherman Residential senior vice president, told Multi-Housing News.
Several months ago, Sherman Residential purchased a Charlotte, N.C. apartment community.