Institutional Property Advisors Facilitates Northwest San Antonio Multifamily Asset Sale
SAN ANTONIO, Oct. 22, 2021 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of The Mark Huebner Oaks, a 361-unit mid-rise apartment complex neighboring the Huebner Oaks Shopping Center in San Antonio, Texas.
“Located within the best submarket for apartment demand in the city, The Mark Huebner Oaks provides residents with a quick commute to all major employment and entertainment drivers throughout San Antonio,” said Will Balthrope, IPA executive managing director. Balthrope and IPA’s Drew Garza represented the seller, J3 Huebner Oaks LP, an affiliate of Godfrey Residential Group, and procured the buyer, PEM. “By highlighting the property’s premier location, access to major San Antonio highways, and the unique opportunity to invest in one of the few remaining newer apartment constructions in the area, we were able to establish a strong pool of interested buyers, and ultimately secure the best value for our client,” added Garza.Located off Huebner Road and Interstate 10, The Huebner Oaks Shopping Center is an outdoor lifestyle shopping center with 50 stores and restaurants, a movie theater, and the only REI in San Antonio. Residents of The Mark Huebner Oaks are adjacent to the shopping center and enjoy unique walkability to all the area’s amenities. The location provides immediate access and mobility to all points in San Antonio and is visible to 200,000 vehicles per day. Notable employers within a few minutes of the property include USAA, Medtronic, Six Flags Fiesta Texas, Clear Channel, Harland Clarke and Valero Energy.
Built in 2018 on just over nine acres by developer Godfrey Residential Group, The Mark Huebner Oaks has a direct-access gate that connects the community to the shopping center, a cast-in-place structured parking garage, a rooftop sky terrace, a golf simulator, pet salon, nature courtyard, and a resort-style pool. The property’s one-, two- and three-bedroom apartments have nine-foot ceilings, large private patios or balconies, linen cabinets, and wine refrigerators. The average unit size is 885 square feet.
“IPA in Texas handles sales for the entire state with one team of dedicated multifamily property investment specialists, who source the most qualified buyers and obtain the best prices for our sellers,” added Balthrope.
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com