(Read more on the multifamily market.)

SAN ANTONIO-A five-week marketing program by the Austin office of Apartment Realty Advisors has paid off with a quick sale of the six-year-old, 322-unit Lodge at Shavano Park in northwest San Antonio.

Patton Jones, sales director for ARA’s Austin office, tells GlobeSt.com that buyer, the Frankel Family Trust of Anaheim, CA, and seller asked that the price remain undisclosed. However, area brokers familiar with the northwest multifamily submarket, the property and current replacement costs tell GlobeSt.com the price would have been at least $100,000 per unit or upward of $32 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.