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Berkadia: San Antonio 2014 Multifamily Sales SummaryBerkadia: San Antonio 2014 Multifamily Sales Summaryhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=13882015-03-31T10:51:00Z2015-03-31T00:00:00Z

SAN ANTONIO - Significant activity persisted in the multifamily-investment market in 2014, according to Berkadia's 2014 Sales Summary.

In 2013, a majority of the deals consisted of 1960s to 1980s stock.

During 2014, however, investors targeted newer assets, with approximately 55 percent of transactions comprised of apartment communities built from 1980 to 2000. Consequently, dollar volume rose 9.6 percent year over year to $1 billion.

More than a third of transactions occurred in the Bexar County/Other and Far North Central submarkets. Prices in the Bexar County/Other submarket advanced 9.2 percent year over year to $118,922 per unit.

In the Far North Central submarket, the average price reached $72,314 per unit, a gain of 47.1 percent. Metrowide, prices increased 27.3 percent to $82,166 per unit.

Cap rates fell 30 basis points in the last 12 months, reaching 6.5 percent in December. Among the most-traded properties, those built from 1980 to 2000, first-year yields averaged 6.7 percent, the same as year-end 2013.

Year-over-Year Sales Summary 2014
  100+ Unit Sales < 100 Unit Sales
Avg. Price
Per Unit
Avg. Price
Per SF
# of
Sales
Total
Volume
Avg. Price
Per Unit
Avg. Price
Per SF
# of
Sales
Total
Volume
2013 $70,757 $76.99 48 $895,574,525 $41,534 $36.34 13 $33,220,220
2014 $85,151 $91.60 44 $990,928,479 $63,406 $47.30 7 $27,151,824
Change 20% 19% -8% 11% 53% 30% -46% -18%


Click here for Berkadia's entire sales summary and 2015 forecast.

Source: Berkadia

Berkadia
San Antonio-New Braunfels
Multifamily
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