October 16, 2020
Berkadia arranged the sale and financing of Legacy Creekside, a newly built, 338-unit garden-style apartment community in San Antonio’s Westover Hills area. Terms weren’t disclosed.
Senior managing director Ryan Epstein of Berkadia’s Houston office, along with San Antonio-based managing director Michael Miller, senior director Will Caruth and director Cody Courtney, represented the seller, White-Conlee Builders.
Lucas Donahue, managing director of Berkadia’s Phoenix office, secured acquisition financing on behalf of the buyer, Univest Inc.
“Westover Hills has seen explosive growth across all product types and has some of the strongest rental market dynamics in the San Antonio metropolitan area,” said Epstein. “In addition, the new owner can utilize existing plans to develop up to 150 additional apartment units on an adjacent 4.55-acre property.”
Built in 2018, Legacy Creekside offers one-, two- and three-bedroom floor plans with an average unit size of 828 square feet.
For comments, questions or concerns, please contact Paul Bubny