The University of Texas/San Antonio intends to buy One Riverwalk Place, a prominent 18-story downtown office tower built in 1981 and previously occupied by USAA. USAA vacated the office building in 2022, and it has had occupancy issues since. One Riverwalk Place, along with 300 Convent across the street, is owned by local real estate firm Affinius Capital and Houston-based Patrinely.

UTSA says One Riverwalk Place provides many move-in-ready facilities that will accelerate UTSA’s downtown expansion. UTSA President Taylor Eighmy added, “Acquiring One Riverwalk Place affirms our commitment to expansion, collaboration and community engagement in downtown San Antonio while positioning our students to acquire the skills they need to succeed.”

After the acquisition is complete, the university plans to house academic departments and support staff on the property, with a possible opportunity for retail on the ground floor. Initial move-ins will begin in summer 2025.

Next Tuesday, learn from and network with experts from Lument, Legacy Partners, Transwestern, Kairoi Residential, TruAmerica Multifamily, Helu Capital, Institutional Property Advisors, RCKRBX, and more at the 6^th annual Connect Texas Multifamily conference. Don’t miss out; be at the Virgin Hotels Dallas for the leading multifamily CRE event next week on August 20^th! Be sure to register in advance; registration pricing increases on event day!