Interwest Capital has acquired a mixed-use property, known as Arrive Eilan or Paseo Residences, located at 17803 La Cantera Terrace in San Antonio. The property spans a total area of 546,512 square feet and is situated in an idyllic neighborhood. It offers easy access to both employment hubs and entertainment options.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: Not specified
• Address: 17803 La Cantera Terrace, San Antonio
• Market: San Antonio
• Buyer: Interwest Capital - Alex Roudi, Elliott Burrell & Chris Nesbitt
• Seller: FPA Multifamily

Elliott Burrell, Interwest Capital's Director of Acquisitions, expressed their satisfaction with the investment, highlighting that the property is a flagship asset built to exceptionally high standards. The acquisition was possible due to attractive financing resulting from a loan assumption. Burrell also mentioned the property's strategic location in one of the fastest-growing markets in the US.

According to Burrell, the San Antonio market has experienced significant growth in rent due to the increased cost of living in nearby Austin. This trend has prompted businesses and residents to relocate to San Antonio, resulting in a year-over-year rent growth of 12% from Q2 2021 to Q2 2022. Interwest Capital anticipates an additional 7% growth in the market over the next 12 months.