Scott Weems, one of three Hendricks & Partners advisers involved in the transaction, says Boerne has a "pretty good" multifamily market. It was rated the third-fastest appreciating multifamily market in the San Antonio area by American/Metro Study Corp., Weems says. "That market is a real cap rate market."
Hendricks & Partners sold four multifamily properties in the San Antonio suburb in the past 18 months. Many Boerne residents work in San Antonio, which is about 30 miles away on Interstate 10.
Weems of Hendricks & Partners San Antonio office and Steve Brombal of the Newport Beach, CA office represented the seller. Ellen Muskin of the Hendricks & Partners office in Austin brokered the deal for the buyer.
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