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San Antonio’s Fundamentals Attract Passco Investment
Passco Companies recently acquired Lenox Overlook, a newly constructed 338-unit luxury apartment community in the North Central submarket of San Antonio, from Oden Hughes. The Irvine, CA-based firm, which has other multifamily holdings in Texas, will rebrand the community as TruNorth at Bulverde.
Gary Goodman, SVP of acquisitions at Passco, said the firm was attracted to TruNorth at Bulverde due to the San Antonio market’s exceptional fundamentals. These include population growth that ranks second-highest in the nation, according to the latest U.S. Census Bureau data.
“San Antonio’s significant in-migration is only accelerating as more people are working from home and have flexibility to move out of major coastal cities in order to experience spacious units and top-tier amenities for a much more attractive price point,” said Goodman. “Additionally, with 52 companies headquartered in the city, it is a thriving economy offering ample local employment.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
