facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Texas

/

Multifamily

/

Sale

/

633 S St Mary's St, San Ant...

Elie Rieder Of Castle Lanterra Properties Represents Buyer In Greystar Sale At 633 S St Mary's St
SOLDMultiFamily

Elie Rieder Of Castle Lanterra Properties Represents Buyer In Greystar Sale At 633 S St Mary's St

633 S St Mary's St, San Antonio, TX, 7...

Building Size

Asset Type

MultiFamily

Closing

May 10, 2017

AI

The property involved in the transaction is a 349-unit Class-A apartment community named Agave, located at 633 S St Mary's St, San Antonio, TX. It was newly constructed in 2016 and is recognized for its energy efficiency and designed by Michael Hsu Office of Architecture. The property includes an eight-story concrete parking garage and offers a mix of studio, one-, and two-bedroom units ranging from 547 to 1,299 square feet. Amenities of Agave include a rooftop Sky Lounge, clubhouse with resident lounge, resort-class pool area, and a state-of-the-art fitness club.

Summary of transaction details:

  • Property Type: Apartment Community
  • Transaction Amount: Not specified
  • Address: 633 S St Mary's St, San Antonio, TX
  • Market: San Antonio
  • Buyer's Representative: Elie Rieder - Castle Lanterra Properties
  • Seller: Greystar
  • Year Built: 2016
  • Number of Units: 349
  • Floor Plans: 40

Elie Rieder, the founder and CEO of Castle Lanterra Properties, spearheaded the acquisition, marking the company’s entry into the San Antonio market. The seller was Greystar in a joint venture with The Carlyle Group. Austin Alexander, Managing Director at Castle Lanterra Properties, highlighted the property's status in a rapidly evolving city, emphasizing the growing appeal of San Antonio for young professionals and the anticipated rent growth in the area through 2020.

Players

Elie Rieder

Castle Lanterra Properties

Broker

$407.8M

vol

7 deals

Broker
Greystar
GreystarSeller
Greystar
GreystarLender

San Antonio MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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