New San Antonio Multifamily Community Sold By Vantage Communities
Drew Garza, with Institutional Property Advisors (IPA), represented the seller, Vantage Communities. He said the property was ripe for a buyer, “New leases and renewal trade outs averaged 15% throughout the escrow process, resulting in the top price for the seller.” In addition, the property was able to raise rents six times from the time it opened up in 2020. He added that the 288-unit Vantage at O’Connor achieved rent stabilization in its first eight months.
Situated near San Antonio’s Stubbing Ranch, the area achieved rent growth of 15.9% and 96% occupancy in the first quarter of 2022. The highly visible complex off Loop 1604 has easy access to Interstate 35 and Highway 281, connecting residents to all points of San Antonio.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.