Northmarq’s Central Texas investment sales team completes sale of 368-unit multifamily property in San Antonio, Texas

SAN ANTONIO, TEXAS (February 28, 2022) – Moses Siller, managing director, Zar Haro, managing director, Phil Grafe, associate and Bryan VanCura, associate in Northmarq’s San Antonio investment sales office, collaborated to arrange the sale of Torino Villas. The 368-unit (949 sq. ft. per unit) premier value-add multifamily community (built in 1969 and last renovated in 2019) is located at 7626 Callaghan Road in San Antonio, Texas, near the highly sought-after South Texas Medical Center. 

The property features large open floor plans with 1-, 2- and 3-bedroom apartment homes available. The property is situated 10 blocks from I-10 and I-410, making commuting convenient. Located in the Layfayette Place neighborhood, resident enjoy convenient suburban attractions and space, with short commutes to South Texas Medical Center, The University Health System, USAA Corporate Office and numerous other employers in Downtown San Antonio as well as the I-10/I-410 loop. Three institutions of higher learning are within less than five miles of the property, including: University of Texas Health Science Center San Antonio (1.9 miles), Galen College of Nursing-San Antonio (2.6 miles) and St. Mary’s University (4.7 miles). Two shopping centers (Plazas at Callaghan and Callaghan Corners) are within less than a half mile. 

Community amenities include: Laundry facilities, maintenance on site, property manager on site, business center, storage space, fitness center, pool, playground, and picnic area. Apartment amenities include: High-speed internet access, washer/dryer hookup, air conditioning, heating, cable ready, storage units, tub/shower, dishwasher, disposal, ice maker, stainless steel appliances, refrigerator, hardwood floors, vinyl flooring, walk-in closets, and balcony. 

The sale occurred during the multifamily market fundamental’s quick rebound from the pandemic, with investors attracted to the sector’s explosive rent growth, tight vacancies, spiking absorption and strong migration trends, noted Northmarq’s recently released National Multifamily Outlook. These dynamic improvements in property performance led to a surge in investment capital flooding into the red-hot sector. Investors are recognizing attractive yields in multifamily that may be difficult to achieve elsewhere. Read the full report.