Northmarq completes $52.26 million sale of 144-unit multifamily property near SpaceX operations in Brownsville, Texas

Multifamily Property
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SAN ANTONIO, TEXAS (July 30, 2021) – Moses Siller, managing director, Zar Haro, managing director, Bryan Van Cura, associate, Phil Grafe, associate and Terry Acosta, associate of Northmarq’s San Antonio multifamily investment team arranged the $52.26 million sale of a 10-property/144-unit multifamily community located at 2454 East Price Road in Brownsville, Texas. 

The property is a short 39-minute drive to Boca Chica, which has assumed the name “Starbase” thanks to its association with the SpaceX operations headquartered there

Located in the Thousand Oaks neighborhood (15 miles north of Downtown San Antonio), the property benefits from close proximity to recreational opportunities such as Mud Creek Park and Friesenhahn Park and enjoys close proximity to Northwoods Shopping Centers, three universities within 10 miles, and numerous other retail and community options. 

Apartment amenities include: Washer/dryer in unit, air conditioning, dishwasher, high speed internet access, hardwood floors, walk-in closets, refrigerator, tub/shower, heating and fireplace. Community amenities include: Pool, fitness center, laundry facilities, clubhouse, controlled access, maintenance on site, property manager on site, trash pickup, recycling, online services, public transportation, business center, basketball court and picnic area. 

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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