Cali Buyer Enters San Antonio, Acquires 248-Unit Hill at Woodway

Orion Real Estate Partners acquired its first San Antonio property, snagging the 248-unit Hill at Woodway apartments from HWW Laureate. The Los Angeles buyer paid $20.2 million for the property in the northwest submarket, while CBRE secured a 10-year, fixed-rate acquisition loan. The new owner is planning to invest approximately $2.2 million to upgrade the interiors and exterior.

Orion Partners’ Kyle Henrickson told the San Antonio Business Journal that the company’s goal is to invest along Interstate 35, between Austin and San Antonio. The company recently sold Azure Apartments & Townhomes at 121 Westheimer Dr. in Austin for an undisclosed amount.

Hill at Woodway, at 10951 Laureate Dr., offers one and two-bedroom layouts. Amenities include a fitness center, swimming pool, business center, picnic area with barbecue, pet park and 24-hour courtesy patrol. United Apartment Group is providing property management services.

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