Updated Oct 29, 2024
JW Capital Management Acquires 278-Unit Republic At Alamo Heights Multifamily In San Antonio For $47.8M
1111 Austin Highway San Antonio, TX 78209, USA
Units
278
Asset Type
MultiFamily
Closing
Aug 21, 2023
About this deal
AI
The 278-unit Republic at Alamo Heights apartment property located at 1111 Austin Highway in San Antonio has been sold by ResProp Management to JW Capital Management. The property, valued at $47.8 million, offers a variety of units and amenities including a pool, fitness center, clubhouse, and Zen garden.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $47.8 million
- Units: 278
- Market: San Antonio
JW Capital Management, represented by Samuel Jesselson and Jason Warsavsky, has purchased the property from ResProp Management. The lending for this transaction was provided by KeyBank. The deal represents JW Capital Management's interest in expanding their multifamily portfolio in San Antonio. The purchase of Republic at Alamo Heights aligns with their investment strategy to acquire properties with strong potential for rental income and growth.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93