Strategic Properties Of North America Buys Multifamily Property In San Antonio

Augusta Flats, a newly-constructed, 260-unit luxury multifamily asset located at 819 Augusta St in San Antonio, TX 78215, was recently sold. The property, built in 2020, features a mix of studio, one- and two-bedroom units with an average size of 799 square feet. With a focus on one-bedroom units to attract young professionals and couples, the apartments boast stainless steel appliances, quartz countertops, custom cabinetry, faux wood floors, and modern lighting and finishes. Amenities include a resort-style swimming pool courtyard, grilling stations, a fitness center, resident lounge, rooftop deck, and a golf simulator room, along with an Amazon Hub package system.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: Not provided
• Market: San Antonio
• Seller's Representative: Matt Michelson (Newmark), Patton Jones (Newmark)
• Buyer: Strategic Properties of North America
• Seller: Stillwater Capital
• Buyer's Joint Venture Partner: Benefit Street Partners Multifamily Trust (BSPMT)
• Buyer's Location: New Jersey

The sale of Augusta Flats in San Antonio was brokered by Patton Jones and Matt Michelson of Newmark, representing the seller, Stillwater Capital. This transaction marks Strategic Properties of North America (SPNA) and Benefit Street Partners Multifamily Trust's (BSPMT) entry into the San Antonio market, with SPNA making its first acquisition in San Antonio.