Arizona Buyer Snags Newish 311-Unit Legacy Flats

PEM Real Estate Group, a real estate investment firm hailing from Scottsdale, AZ, struck a deal with White-Conlee Builders for the 311-unit Legacy Flats in northwest San Antonio. White-Conlee, operating as Legacy Flats LTD, put the finishing touches on the complex in 2016. Ryan Epstein, Will Caruth, Mike Miller, Cody Courtney, Wes Breeding and Scott Bray, all with Berkadia, negotiated the transaction. The sales price wasn’t disclosed.

Legacy Flats is at 10418 Shaenfield Rd. in the Westover Hills area and offers one, two, and three-bedroom units, with on-site amenities including a fitness center, wireless internet café, clubhouse and outdoor swimming pool and kitchen.

“San Antonio’s multifamily fundamentals will strengthen throughout 2018, as 2.4 percent annual area job growth is expected to play a role in demand outpacing supply,” Epstein said. “Investors are taking notice, and newly-built, stabilized properties with strong lease-ups are one of the factors leading to these kinds of suburban transactions.”

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