Standard at Legacy Attracts Investors Seeking Trophy Core Asset

The Standard at Legacy, a 323-unit mid-rise multifamily asset located at 1938 E. Sonterra Blvd. in the Stone Oak area of San Antonio, recently sold for an undisclosed purchase price. The buyer was Sherman Residential, a Chicago-based multifamily investor and operator.

Newmark’s Patton Jones and Matt Michelson represented the seller, Embrey.

“Embrey is known for building exceptional-quality apartment communities in excellent locations,” said Jones. “The Standard at Legacy attracted institutions and private investors seeking a trophy core asset in one of San Antonio’s most affluent suburban areas.”

The property was 98 percent occupied at the time of sale. Built in 2020, The Standard at Legacy is a unique community of townhomes and flats featuring a mix of studio, one-, two- and three-bedroom units with an average unit size of 946 square feet.

“This is a best-in-class community in a premier location with easy access to Highway 281 and Loop 1604,” says John Kirk, Embrey’s managing director and executive vice president. “Standard at Legacy supports the active lifestyles of today’s rising professional with a wide range of residential amenities and easy access to the high-end dining, shopping and employers in the area.”