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
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