August 15, 2019
Sherman Residential, headquartered in Chicago, acquired Wiregrass at Stone Oak, a 308-unit apartment complex in San Antonio’s Stone Oak neighborhood. The seller was the developer, Epoch Residential of Winter Park, FL. Will Balthrope, Drew Garza and Jordan Featherston with Marcus & Millichap’s Institutional Property Advisors represented the seller, and procured the buyer.
Located at 20303 Stone Oak Pkwy., Wiregrass at Stone Oak was built in 2014, and offers one-, two- and three-bedroom units. Amenities include a dog park, swimming pool, business center with conference room, fitness center and clubhouse.
Balthrope told the San Antonio Business Journal that IPA hosted 18 tours of Wiregrass and received 12 offers for the property. “The investment market in San Antonio is as strong as I’ve ever seen it,” he said. “Investors are finding good returns here, and after two moderate years, fundamentals have improved, which has helped propel investor interest.”
Connect Texas Multifamily Conference is just around the corner — but there is still time to register for this Aug. 15 event! For information and to register, click here.
For comments, questions or concerns, please contact Amy Sorter