WayMaker Ventures Acquires 191-Unit Multifamily Complex In San Antonio From Benefit Street Partners And Strategic Properties of America

The Jones & Rio downtown apartment complex, located at 111 West Jones Avenue in San Antonio, comprising 191 units, has been acquired by WayMaker Ventures LLC, an Austin investment firm. The property was previously owned by Benefit Street Partners and Strategic Properties of America.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not Disclosed
• Buyer: Jamie Dougherty - WayMaker Ventures
• Seller: David Manlowe - Benefit Street Partners; Saul Kuperwasser - Strategic Properties of America
• Brokers: Christopher Roper, Robert Wooten, Robert Arzola & Ryan McBride - JLL
• Lender: Horizon Bank

WayMaker Ventures secured a $13 million loan from Horizon Bank as part of the acquisition. The property transaction reflects the active real estate market in San Antonio's River North area, with various developments and infrastructure improvements ongoing in the vicinity.