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500 N Santa Rosa St San Ant...

Weston Urban Acquires Soap Factory Apartments In San Antonio
SOLDMultiFamily

Weston Urban Acquires Soap Factory Apartments In San Antonio

500 N Santa Rosa St San Antonio, TX 78207, USA

Building Size

Asset Type

MultiFamily

Closing

Sep 6, 2023

AI

Weston Urban has acquired the Soap Factory Apartments, a 381-unit multifamily property located at 500, 600, and 601 North Santa Rosa Street in San Antonio. The exact purchase price for the transaction has not been disclosed. The property spans across 3 acres and is situated in the San Antonio market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Undisclosed
  • Units: 381
  • Acres: 3
  • Address: 500, 600 & 601 North Santa Rosa Street, San Antonio
  • Market: San Antonio

The buyer of the Soap Factory Apartments is Randy Smith, representing Weston Urban. The deal was facilitated by brokers Matt Michelson, Patton Jones, and Andrew Dickson from Newmark. TransPecos Banks provided the financing for this acquisition.

Players

Patton Jones

Newmark

Broker

49 deals

Broker

Randy Smith

Weston Urban

Buyer

2 deals

Buyer
TransPecos Banks
TransPecos BanksLender

San Antonio MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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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