Sherman Residential Buys San Antonio Luxury Community
Right Quest sold the 264-unit property.
Sherman Residential has purchased Eleven West, a 264-unit luxury community in San Antonio, completed earlier this year. Right Quest sold the asset, according to Yardi Matrix data. This represents Sherman’s third acquisition in the San Antonio market.
The previous owner financed the development with a $22 million construction loan, originated by Veritex Community Bank in 2021, the same source shows.
The property encompasses 11 buildings on a 14-acre site. Unit layouts have one- and two-bedroom floorplans, ranging between 597 and 1,137 square feet. Common-area amenities include a swimming pool, a fitness center, business center, clubhouse, media room, a dog park, lounge areas and approximately 387 parking spaces. Eleven West also provides outside storage and detached garages.
The community’s location at 12136 US Highway 90 allows for direct access to downtown San Antonio. Eleven West is situated in the Southwest Bexar County submarket, in an area with multiple dining options and retail centers.
The company recently purchased Axis Grand Crossing, a 322-unit luxury multifamily community in Grand Prairie, Texas, a Metroplex suburb. Wood Partners sold the 2022-completed property.