Newmark Arranges Sale of 260-Unit MF Asset in San Antonio

Newmark has brokered the sale of Augusta Flats, a newly-constructed, 260-unit luxury multifamily asset located in downtown San Antonio.

Located at 819 Augusta St., the property was built in 2020 and features a mix of studio, one- and two-bedroom units with an average unit size of 799 square feet. The unit mix was specifically designed with 75% one-bedroom units to appeal to young professionals as well as couples. Features include stainless steel appliances, quartz countertops, custom cabinetry, faux wood floors and modern lighting and finishes. Amenities include a resort-style swimming pool courtyard with pergolas, grilling stations, a two-story fitness center, resident lounge, rooftop deck and golf simulator room as well as an Amazon Hub package system.

The property traded from private Texas-based real estate development and management firm Stillwater Capital to the buyer, New Jersey-based real estate investment firm Strategic Properties of North America (SPNA) and their joint venture partner Benefit Street Partners Multifamily Trust (BSPMT). Patton Jones and Matt Michelson of Newmark represented the seller, Stillwater Capital, in the transaction. The asset is SPNA’s first purchase in San Antonio.