Comunidad Realty Sells 208-Unit Villas de Santa Fe

Comunidad Realty Partners sold Villas de Santa Fe, a 208-unit apartment property in San Antonio’s Medical District submarket. The seller, which hails out of San Diego, and has an office in Austin, sold the 37-year-old property to Dallas-based Urban Southwest Investors LLC.

Berkadia’s Mike Miller, Will Caruth, Director Chris Ross and Cody Courtney represented the seller in this value-add transaction. “Villas de Santa Fe presented a fully stabilized value-add opportunity with considerable upside potential, in one of San Antonio’s premier locations,” Miller said. “After seeing a 4.5% rental increase over 2018 in the Medical Center submarket, the asset is poised for significant income growth in a multifamily market that shows continued population and job growth.”

Villa de Santa Fe is on 7 acres at 3601 Magic Dr., and offers one and two-bedroom units. Community amenities include a clubhouse, swimming pool, fitness center, picnic area, two clothes-care facilities and a sports court.

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