Rio Capital And Triangle Capital Group Acquire 353,000 Square Foot Retail Center In San Antonio From Santikos Real Estate Services
18402 Us Highway 281 North
Building Size
353,000 SF
Asset Type
Retail
Closing
May 26, 2026
AI
The sale involved a 353,000-square-foot lifestyle center located at 18402 US Highway 281 North in the San Antonio, TX market. The retail center, built in 2006 on 32.2 acres, features national tenants such as Best Buy and Buffalo Wild Wings, and includes both office space and pad sites, creating a mixed-use retail layout.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 18402 US Highway 281 North
- Market: San Antonio, TX
- Asset Size: 353,000 square feet
- Land Area: 32.2 acres
- Buyer: Rio Capital & Triangle Capital Group
- Seller: Santikos Real Estate Services
- Broker: Barry Brown, Whitney Snell & Shea Petrick - JLL
JLL Capital Markets facilitated the sale of The Legacy, a significantly large retail center in San Antonio. This transaction highlighted the partnership between Rio Capital and Triangle Capital Group in acquiring the asset from Santikos Real Estate Services.
Players
Market Retail Market Snapshot
Boundary boundary · Retail · 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