Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
First-Time Buyer in SA Makes Value-Add Deal
The Multifamily Group (TMG) recently sold the 66-unit Sungate apartments in San Antonio. TMG senior advisor Chris Siemasko worked with the San Antonio-based seller, while his colleague Bryce Smith procured the buyer.
Sungate was built in 1972 and provides an opportunity for the new owner to reposition the property by doing both interior and exterior renovations. According to TMG, the property’s sale for an undisclosed sum represents the lowest cap rate recorded in San Antonio’s Longhorn submarket in the past 24 months.
This was the undisclosed buyer’s first acquisition in the San Antonio market. “We’re excited to see how the new owner will reposition this property,” said Smith.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

