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Texas  + San Antonio  + Apartments  | 
Newmark finds seller, secures loan for San Antonio 3 property portfolio

Newmark Helps Seller, Finds Loan for Three Property San Antonio Portfolio

Affiliates of Harbor Group International have acquired a three-property multifamily portfolio, totaling 828 units, in San Antonio. Newmark facilitated the deal for the seller, a joint venture between Multifamily Acquisition Advisors and Blackhawk Property Holdings. Newmark also secured a $47 million Freddie Mac loan for the new owner.

The portfolio encompasses three garden-style properties and each were acquired with a portion of the $47 million loan: the 192-unit Spice Creek, located at 8802 Cinnamon Creek Drive, $11.6 million; the 300-unit The Clara, located at 10707 W. Interstate 10, $18.1 million; and the 336-unit The Maxwell, located at 1431 Cable Ranch Road, $17.1 million, according to Yardi Matrix.

All three properties encompass units ranging from one- to two-bedroom apartments featuring private patios or balconies available in select units. The common-area amenities include swimming pools, outdoor picnic areas with grilling stations, clubhouses and fitness centers.

Newmark Senior Managing Director Matt Michelson brokered the transaction on behalf of the sellers. Henry Stimler led a Newmark team that arranged financing for the new owner


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About Mike Boyd

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.