San Antonio Apartment Investors Waste No Time Putting Second Property on Block

Jones & Rio, a 191-unit site at 111 W. Jones Ave., has been put up for sale by New York-based Benefit Street Partners and New Jersey-based Strategic Properties of America. This is the second property that the owners have looked to offload in recent weeks. The 260-unit August Flats was put on the market in September. Sitting adjacent to the River Walk, the property is located in the River North area.

The San Antonio Business Journal reports an offering price was not disclosed, though the site was most recently assessed at $45.1 million, according to a 2023 appraisal from the Bexar Appraisal District. The Jones & Rio building is being marketed by a JLL team led by Robert Arzola.

The 55,400-square-foot land receives a partial municipal tax abatement as part of a Center City Housing Initiative Policy (CCHIP) incentive program.