384-Unit Preserve at the Port Changes Hands

A local investor ended its nine-year hold on Preserve at the Port, a 384-unit apartment complex on San Antonio’s southwest side. Paul Yazbeck and Will Clarke with The Multifamily Group represented the seller, Terravista Corp. in the off-market sale to a Chicago-based buyer.

The vintage complex at 402 Gillmore Ave. is close to Port San Antonio, which is home to a booming technology business park. “We continue to source new buyers wanting to get into the San Antonio market,” Clarke said. “Given the current competitive buying environment in value-add space, the acquiring party had a rare opportunity to acquire the asset, off-market.”

According to county records, Preserve at the Port delivered in the mid-1940s. The complex offers one-, two- and three-bedroom apartments, measuring from 667 to 966 square feet. Amenities include a fitness center, pool, playground, laundry facilities and storage units.

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