San Antonio apartment tally on the riseSan Antonio apartment tally on the risehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=14002015-04-06T10:31:00Z2015-03-28T00:00:00Z

SAN ANTONIO - San Antonio’s multifamily market is ramping up significantly with more than 10,700 units in the works after delivering 4,800 units last year, according to Austin Investor Interests.

Among the projects completed in 1Q 2015 include the 412-unit Legacy Brooks, the 336-unit Ventura Ridge, the 297-unit Thirty Oaks and the 252-unit Gardens of San Juan Ridge.

Even with the new units added last year, absorption remained positive throughout 2014. The average occupancy at the end of the year was 92 percent and the average effective rental rate was $1.01 per sf.

There were 66 multifamily properties traded in 2014 and volume decreased about 20 percent from 2013, yet the value of the traded assets was up 43 percent. The average sale price per unit was $102,000.

What it all means is that the San Antonio market will continue to see much of the same growth in 2015. The new unit additions will challenge occupancy during the slower quarters of the year but will continue to push rental rates up.

Online news
San Antonio-New Braunfels
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