San Antonio Stays Hot with Multifamily Investors

According to Newmark research, San Antonio multifamily investment kept pace with national trends, as sales allocation was 52.4 percent of total commercial real estate sales in 2020. A recent example of those kinds of stats is Southtown Flats, a 229-unit class-A multifamily asset in downtown San Antonio, which was purchased by SPI Advisory.

Newmark’s Matt Michelson and Patton Jones represented the seller, Denver-based real estate private equity firm Ascentris, which developed the property in 2016. Matt Greer, Hank Glasgow and Braden Harmon of Newmark facilitated the financing on behalf of SPI Advisory.

“Southtown remains one of the most desirable submarkets in San Antonio for both renters and investors,” said Michelson. “Southtown Flats’ outstanding location in the heart of Southtown and proximity to the San Antonio River Walk and CBD presented a rare opportunity for an investor to acquire a coveted piece of real estate in a walkable 24-hour lifestyle hub.”