Northmarq’s Central Texas team announces sale and financing of The Gobi Apartments

SAN ANTONIO (Aug. 22, 2024) — Northmarq’s San Antonio Multifamily Investment Sales team of Zar Haro, Moses Siller, Bryan VanCura, Phil Grafe, Brian Booth, Kevin Garza and Leah Eaglin successfully brokered the sale of The Gobi Apartments. The 92-unit multifamily property was built in 1969 and is located at 2822-2903 Hillcrest Dr. in San Antonio, Texas.

Northmarq represented the seller, a private investor. 

Cheryl Higley, managing director of Debt + Equity in Northmarq’s Austin office, secured acquisition financing for the buyer, a private investor and new entrant to the San Antonio market.

“This transaction was a team effort on all sides as we worked through challenging market conditions throughout the entirety of the process. All parties worked together to find creative solutions to those challenges,” said Haro. “We look forward to seeing the success of both the seller and buyer as they continue in the market.”

The Gobi Apartments offers a diverse mix of one-, two- and three-bedroom apartment homes with an average of 877 sq. ft. Located in the suburbs of San Antonio, residents enjoy a relaxed atmosphere while only being 20 minutes from Downtown San Antonio. The multifamily community has undergone extensive capital improvements and premium renovations, allowing the buyer to maximize occupancy and bridge the rental rate gap.  

Apartment amenities include: In-unit washer/dryer or hookup, walk-in closets, vinyl flooring and balcony/patio. Community amenities include: Swimming pool, laundry facilities, business center, grill and picnic area, on-site maintenance and property manager, pet play area and storage space.