New Retailers Drive Traffic to Area
Alamo Ranch has consistently been growing with new retailers, restaurants, grocery stores and entertainment venues, and Twin Creeks at Alamo Ranch recently gained much attention from US buyers.
SAN ANTONIO—While San Antonio continues to shine with developers and investors alike, specific submarkets are especially hot. One location in particular, Alamo Ranch, played a key role in the recent disposition of a multifamily property, Twin Creeks at Alamo Ranch.
SWBC Real Estate LLC owned and developed the 300-unit class-A property, with construction completed in 2016. It sold to a private family office from the upper Midwest for an undisclosed price.
“The Twin Creeks property received an abundance of interest from potential buyers all across the US,” said Terry W. Gwin, president and CEO of SWBC Real Estate. “One of the main drivers for the high amount of interest is the property’s superior location on the west side of San Antonio. The property lies at the entrance to the Alamo Ranch master-planned community, just west of the Highway 151 and 1604 intersection.”
Twin Creeks is comprised of one-bedroom, two-bedroom and three-bedroom units. The property has a ranch-themed clubhouse with a pool and spa, outdoor gathering areas and grills, direct access or detached garages, a private entrance gate system, a car wash and a fitness center.
“Long term, this property should continue to benefit from the rapid growth in west San Antonio, as just to the east of the property along Highway 151 is Westover Hills, one of the fastest-growing employment centers in San Antonio with an abundance of new office buildings and medical centers,” Gwin tells GlobeSt.com. “The property also benefits from being located in between a recently completed HEB grocery store and Santiko’s new Casa Blanca Movie and Entertainment Center. Numerous other retailers have been opening or have plans to open within area, which will continue to drive residents to the property.”
Institutional Property Advisors, a division of Marcus & Millichap, handled the sale for SWBC Real Estate. Will Balthrope, executive director for IPA, and Jordan Featherston of IPA were the brokers on the transaction.
“The San Antonio multifamily market continues to experience strong investor demand from a wide variety of investors from across the country,” said Balthrope. “Alamo Ranch is one of the most vibrant submarkets in the city, evidenced by strong rental demand and fast lease-ups.”