Northmarq’s Multifamily Investment Sales team brokers sale of 88-unit apartment community in San Antonio

SAN ANTONIO (April 24, 2024) — Northmarq’s San Antonio Multifamily Investment Sales team led by Zar Haro, Moses Siller, Bryan VanCura, Phil Grafe, Brian Booth, Rudy Dodier and Kevin Garza brokered the sale of an 88-unit multifamily property in the Northeast San Antonio submarket. Built in 1974, The Flats at 9338 is situated on 3.17 acres at 9338 Perrin Beitel with connectivity to major highways and employers.

Northmarq represented the seller, Astoria Partners LLC. The buyer was Olson Capital from Laguna Hills, Calif. with various holdings in across the country.

“Hard work and teamwork can never be replaced,” said VanCura. “We were able to get this one across the line due to everyone working towards the same goal; from the seller and property management team leasing the property up in a challenging rental market – to our team sourcing a first time San Antonio buyer, everyone rowed in the same direction. Congratulations to all parties on a successful transaction.“

The Flats at 9338 is ideally located within an 8-minute radius of three major highways (Loop 410, Interstate 35 and Wurzbach Parkway) offering residents easy access to retail, entertainment and major employers like H-E-B Distribution Center, Randolph-Brooks Federal Credit Union and JBSA-Randolph Air Force Base.

The Northeast San Antonio submarket continues to attract commercial and residential demand and development, including significant industrial companies like Amazon and Tesla, which recently leased a 439,809-sq.-ft. industrial park space 14 minutes from The Flats at 9338.

The pet-friendly community boasts an average unit size of 850 sq. ft. with community amenities such as laundry facilities, controlled access, clubhouse and gated swimming pool.