Houston Investor Makes First San Antonio Deal
Houston-based Serac Capital Partners acquired Fountainhead Park I and II, two three-story Class A multi-tenant office buildings in San Antonio’s Northwest submarket. The buildings, representing Serac’s first acquisition in the region, total 171,205 square feet and are 94% leased.
Wm. Roger Gregory, Serac’s CEO, said, “Fountainhead Park will provide a strong foothold in a growing market that is often overlooked by investors. In addition to solid building fundamentals, we are able to take advantage of a COVID-19 discount and excellent bank financing.”
The Transwestern Capital Markets team representing the seller was led by Leah Gallagher, Hale Umstattd and Scott Myers. Kelly Ralston and Larry Mendez, also of Transwestern, will continue to lease the buildings.
Endura Advisory Group will continue to provide property management. Debt and equity were arranged by Arnie Azios and Larry Schanzmeyer with The Houston Group/Realty Advisors, Inc. Woodforest National Bank provided the debt financing.
Photo courtesy of Transwestern.
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