385-Unit Enclave sold in San Antonio385-Unit Enclave sold in San Antoniohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=1552015-08-13T07:47:00Z2015-08-13T00:00:00Z

SAN ANTONIO - The 384-unit Enclave, a multifamily property located at 2555 N.E. Loop 410, has been sold to by PBC Acquisition Services LLC.

Built in 1980, the Class B, 384-unit community is 97 percent occupied and features one- and two-bedroom floor plans.

The Enclave, located near Loop 410 and Interstate 35, is situated five and a half miles from both the North Star Mall and the San Antonio International Airport.

The area's top employers include Rackspace, the airport, Northeast Baptist Hospital and Fort Sam Houston.

Vacancy in the San Antonio metro area fell 70 basis points to 6.3 percent in first quarter 2015.

Average asking rents appreciated 2.7 percent since first quarter 2014, reaching $885 in March of this year.

This transaction echoes the recent growth in the San Antonio housing market, with vacancy in the metro-wide area falling 70 basis points to 6.3 percent in 1Q 2015. Average rent prices in the area reached $885 in March of this year.

Multi-Housing News
San Antonio-New Braunfels
http://www.multihousingnews.com/news/south/berkadia-sells-luxury-san-antonio-asset/1004125107.htmlRead more at {Source}

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