Newmark Brokers Sale of 316-Unit MF Community in San Antonio

Newmark has arranged the sale of Maxwell Townhomes, a 316-unit value-add multifamily community located in North Central San Antonio.

Located on a 23-acre site at 11146 Vance Jackson Road in San Antonio, the townhome-style asset includes a mix of one-, two- and three-bedroom units with an average unit size of 1,016 square feet. Originally built in 1982, the seller made significant improvements to the exterior and common areas over the past several years. The property is also proximate to several major employment centers, with an employment base of 173,314 within a five-mile radius.

Property amenities include two swimming pools, a fitness center, clubhouse, playground, putting green, lighted sport court and dog park.

Patton Jones and Matt Michelson of Newmark represented the seller, Resource REIT, in the transaction. The buyer was Orion Real Estate Partners, a real estate investment firm targeting value-add multifamily assets in western U.S. markets. Resource REIT is a self-managed real estate investment trust (REIT) that owns a portfolio of apartment communities in targeted markets.