The 200-unit multifamily community consists of one- and two-storybuildings.
SAN ANTONIO—Due to steady job growth, San Antonio's unemployment rate is below the national average.The city has added an annual average of 29,000 jobs during the pastfive years. Additionally, more than 1 million people are expectedto move to Bexar County during the next 25 years, according to SanAntonio's planning director. This has helped support the tourismindustry in San Antonio, which employs more than 100,000 people and has anestimated $10.7 billion economic impact.
Rising employment is expected to continue driving demand growth,which will continue to play an important factor in attractinginvestment, albeit with investors staying aware of the currenteconomic cycle stage, according to Berkadia's Houston 2019forecast. One recent acquisition reflects the tenor of this growth.The Place at Houston Street is a class-B garden-style apartmentcommunity located at 4611 E Houston St. which was recently acquiredby Westmount Realty Capital.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
