San Antonio Property Changes Hands
JLL Capital Markets brokered the sale of the recently renovated Nexus Urban Living, with Hunt Real Estate Capital providing nearly $5 million in Freddie Mac acquisition financing.
JLL Capital Markets has arranged the sale of the 75-unit Nexus Urban Living in San Antonio. Bexar County records show that Hunt Real Estate Capital originated a $4.9 million, 10-year Freddie Mac acquisition loan on behalf of the buyer, New York-based investor Nathan Mann. JLL represented the seller.
Located at 6810 Glendora Road, the community consists of one- to three-bedroom apartments. Common-area amenities include a pool, barbeque area and business center. The seller renovated the 1970’s-built property, upgrading the interiors and adding a pool, a dog park and parking. The community is adjacent to interstates 35 and 410 and is close to employers such as San Antonio Military Medical Center, BAMC and the HEB Distribution Center. Downtown San Antonio is roughly 9 miles away. According to Yardi Matrix data, the asset was 83.8 percent leased as of February.
“San Antonio is one of the most active multifamily markets in the U.S.,” said Zar Haro, senior vice president at JLL Capital Markets, in prepared remarks. “Not only do we have great economic fundamentals that make San Antonio a great place to live, work and play, but there are tremendous investment opportunities across a variety of product types and class levels.”
Haro, together with Senior Vice President Moses Siller and Vice President Robert Arzola worked on behalf of the seller, a local private investor. In late 2018, Moses and Haro brokered the sale of the 164-unit Whispering Hills, a property less than 7 miles from Nexus Urban Living.