Northmarq brokers sale of Las Palomas Apartments in Hondo, Texas near San Antonio

SAN ANTONIO, TEXAS (April 18, 2023) — Zar Haro, Moses Siller, Bryan VanCura, Phil Grafe and Brian Booth of Northmarq’s San Antonio office arranged the sale of Las Palomas, a 108-unit community. Cheryl Higley of Northmarq’s Austin office arranged the financing. The multifamily community is located at 2805 Avenue U in Hondo, Texas. Northmarq represented the seller, Lonestar Springs, and buyer, Revive Real Estate.

“The property was sold subject to the loan assumption. Both buyer and seller were able to complete the transaction during challenging times, showcasing the resilience of private capital. This was one of the smoothest transactions in the last five years. Thanks to Revive’s preparedness and preparation, and Lonestar Springs for running a great operation,” said Haro.

Built in 1995, Las Palomas Apartments offers spacious two- and three-bedroom apartment homes conveniently located near shopping, public parks, dining, and entertainment. With beautifully landscaped grounds, the pet-friendly multifamily property provides a charming community just over 43 miles west of San Antonio. Apartment amenities include large walk-in closets, vaulted ceilings, window coverings, vinyl planks and carpeting, private patio, and washer and dryer. Community amenities include high-speed internet, playground, two laundry facilities, on-site office, emergency maintenance service, and a dog park.