SAN ANTONIO - Rising rental and occupancy rates that are fueling demand for new multifamily projects in San Antonio are also spurring a new wave of apartment sales.
According to Marcus & Millichap, the overall vacancy rate will reach 6.4 percent by year end. Citywide average asking rents are expected to increase 3.1 percent to $741 a month.
Recent transactions include:
The Palomino, on the city's Northwest Side at 14111 Vance Jackson Rd., was sold by Koontz McCombs Development. The 484-unit, Class A community marks the largest single-asset apartment sale in San Antonio so far this year.
F&B Capital LLC closed on the purchase of a 704-unit portfolio that includes the Audubon and Countryside complexes in North Central San Antonio and The Willows on the city’s Northwest Side.
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