September 15, 2017
Bluerock Real Estate LLC has struck once again in San Antonio, acquiring the 320-unit Grand at the Dominion from Embrey Partners, the project’s developer. The transaction for the property at 23910 Interstate 10 in the mixed-use Dominion Crossing, comes a handful of months after New York-based Bluerock acquired three complexes on San Antonio’s north side for $115.8 million.
The sales price was undisclosed, with the Bexar Central Appraisal District valuing it at $50.9 million. The apartment complex delivered in 2015.
San Antonio is one of Bluerock’s target markets, as are Austin, Dallas and Houston. “Even though there’s a lot of new supply, there’s just tremendous growth and affluence,” Bluerock’s Chris Fiscelli told the San Antonio Express-News. “Despite the competition, long-term we really like that demand story there.”
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