Multifamily - Sale

Northmarq’s San Antonio office completes sale of Aviation Place in Universal City, Texas

AN ANTONIO, TEXAS (September 29, 2022) – Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe finalized the sale of Aviation Place, a 61-unit property is located at 402 East Aviation Place in Universal City, Texas. Northmarq represented the buyer, Raybec Investment Group, who plans a renovation program. “We are inspired to make communities transform through the power of clean, functional housing and care for our residents; we are excited for the change in the community,” said Norman Litz of Raybec.

The Northeast submarket is one of the most populous submarkets in San Antonio, with more than 100,000 households, and is growing at 11 percent. Much of the submarket’s employment increase is happening because of the changing landscape for industrial space and the demand for manufacturing along the I-35 corridor, much like Navistar. “With the continued growth of e-commerce, distributors are seeking efficient transportation and connectivity to consumers and retailers. Interstate 35 serves as a major connector in San Antonio and passes directly through the Northeast submarket,” said VanCura.

“The reprioritization of favoring North American trade routes between Mexico and the United States over politically risky and supply chain-shattered Asian markets has caused a fundamental shift forcing distributors to find alternate shipping routes. San Antonio will benefit from the disruption,” said Haro.

Aviation Place benefits from the wide range of activities in University City. Known for its wide range of athletic fields, nature trails, and seasonal community events, the neighborhood offers something for everyone. Located right off Interstate 35, University City Park residents are just 20 miles southwest of Downtown San Antonio.

According to Northmarq’s recently released San Antonio multifamily market insights, the number of properties that have changed hands increased by nearly 50 percent year-to-date. 

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.