SAN ANTONIO–Northwood Apartments, located at 8315 N. Vandiver, has traded hands. The buyer and purchase price were not disclosed.
The 110-unit value-add property was marketed by San Antonio Commercial Advisors, an independently owned member of the Cushman & Wakefield Alliance.
“The sale of Northwood was dependent on the buyer pool visualizing the upside of the property within the dynamics of the submarket,” says Brandon Lo Porto, with the San Antonio Commercial Advisors‘ multifamily team. “The investment was well maintained and occupied but needed a fresh approach to demonstrate specific upside.”
Northwood managed to attract bids from a range of investors, which Lo Porto says ultimately netted the seller an attractive price.
The property contains studio, one- and two-bedroom units, ranging in size from 502 square feet to 1,200 square feet. Northwood amenities include two swimming pools, three on-site clothes care facilities, walk-in closets, tree-covered courtyards and family picnic areas.