Northmarq completes sale of class A multifamily community in San Antonio, Texas

SAN ANTONIO, TEXAS (February 1, 2022) – Moses Siller, managing director of Northmarq’s San Antonio investment sales team, arranged the sale of The Reserve at Lone Oak. The 200-unit/2-floor class A multifamily property, built in 2014, is located at 20005 Liedecke Road in San Antonio, Texas. Northmarq represented the buyer, GV&A Real Estate Investments, and the seller, Encore Residential LLC in the transaction. 

The property is well-positioned on IH-37 and Loop 1604, allowing easy access to South Texas, as well as close proximity to HWY 281 South. Two institutions of higher learning, St. Philip’s College (16.7 miles) and Palo Alto College (18.2 miles), are located less than 20 miles of the property. Reserve at Lone Oak residents live in close proximity to three shopping centers, all within an 18-minute drive. Other attractions include five parks within 14.2 miles.

“We’re excited to buy Reserve at Lone Oak. It’s a great asset that provides high quality residences at an attainable price. It also fits perfectly within our strategy of buying recently built properties within rapidly growing submarkets,” said Benoit Rochard, Acquisitions & Investor Relations, GV&A Real Estate Investments.

Located in the Southeast submarket of San Antonio, The Reserve at Lone Oak offers relatively affordable rents within commuting distance of major employment centers. The employment base of Southeast San Antonio continues to grow past the historically renter-by-necessity demographic. With major announcements of new jobs from Okin BPS and Cuisine Solutions at Brooks City Base and now Amazon taking more than 300,000 square feet for a distribution facility, leasing is expected to stay robust as the employment base continues to expand in the submarket. 

With prospective residents seeking to move out of cluttered metros to more suburban areas, the prospective renter pool in the Southeast submarket of San Antonio has continued to grow from this rising demand of suburban living. Affordability is a major attraction for renters in this submarket and offer renters a much reasonable choice than the neighboring submarkets of Downtown and Northcentral San Antonio. Stabilized vacancies have been remarkably consistent, hovering around 8 percent since 2014.

Apartment amenities include: In-unit washer/dryer, air conditioning, heating, ceiling fans, smoke free environment, cable ready, tub/shower, sprinkler system, wheelchair accessible rooms, granite countertops, microwave, hardwood floors and walk-in closets. Community amenities include: Pool, fitness center, furnished units available, playground, clubhouse, controlled access, grill, controlled access, package service, grocery service, maintenance/property manager on site, furnished units available, vision impaired accessible, pet-friendly (with care and play area), planned social activities and gated community.