Texas + San Antonio + Apartments | June 16, 2021

CBRE Global Investors Scores Preston Peak Multifamily

A fund sponsored by CBRE Global Investors has acquired a 596-unit garden-style residential community in San Antonio. Preston Peak is currently 93 percent leased and sits on a low-density site in Northwest San Antonio, a submarket that is home to the largest employment hub in the area.

“At Preston Peak, our team plans to apply our knowledge and expertise from operating in San Antonio to make changes that will effectively bolster leasing at the property and take advantage of growing demand for housing in this area,” said Tracey Zhou, director for CBRE Global Investors. “In addition to implementing our firm’s proprietary A&B tenant engagement program, we are planning a capital program to address curb appeal, amenities and unit upgrades.”

Preston Peak offers a mix of one- and two-bedroom apartments. Its location at 4114 Medical Dr. is near the 59,000-employee South Texas Medical Center, USAA and the University of Texas at San Antonio.

Newmark Patton Jones and Matt Michelson represented the seller, Knightvest Capital.

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Tracey Zhou

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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