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Development is primarily associated with lifestyle, i.e. renter by necessity and workforce markets, concentrated in the San Antonio northern submarkets of Beckman/New Braunfels and the urban core.
La Fiesta is Sterling's second San Antonio acquisition following its purchase of Chestnut Park Apartments in Castle Hills, and continues the JV's focus on investing in value-add class-B and -C multifamily assets.
As the migration of companies and residents to the Houston region continues, the demand for self-storage facilities will expand to meet the needs of the community.
Investors are attracted to the metro area's healthy retail fundamentals underpinned by nation-leading population and employment growth, leading to the sale of two single-tenant retail buildings.
A recent office analysis shows a strikingly vulnerable national office sector with vacancies that have remained essentially unmoved in the past two years and rent growth slowing to its weakest pace in five years.
Oil centers such as Odessa and Midland, TX are still at the top of the list with the highest rent rebounds during the year, at 35% and 31.4% respectively.
Phase II has broken ground on University Commons, a new retail and lifestyle gateway to Sugar Land's Telfair community off Interstate 69, a major expansion encompassing 108,000 square feet.