March 24, 2017
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Woodside Capital Partners of Dallas, TX acquired the 190,000-square-foot Ashford Oaks office at 8122 Datapoint Dr. in San Antonio. Woodside bought the more than 30-year-old tower from a mortgage-backed securities trust that owned the asset since it went through foreclosure in October 2015.
The sales price was undisclosed, but local media sources said the buyer used a $13.6 million loan to make the purchase. The Bexar Appraisal District assessed it at $20 million in 2016. Ashford Oaks delivered in 1984, and is currently 64% occupied. Woodside is planning a capital investment of $5.4 million to upgrade the exterior and elevators, and improve the parking garage.
“We are very, very bullish on San Antonio,” Woodside’s Marcus Morriss told the San Antonio Express News. “We think Austin will continue to grow farther and farther south. We think tech will be a major (growth area) as Austin gets priced out of a lot of people’s range.”
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