Thursday , 14 November 2019
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San Antonio Multifamily Project Sold

Broadstone Colonnade apartments in San Antonio.

Broadstone Colonnade apartments in San Antonio.

SAN ANTONIO — CBRE Capital Markets’ multifamily team announces the sale of Broadstone Colonnade on behalf of Kansas City, Missouri-based Price Development Group. An anonymous buyer purchased the 282-unit, Class A multifamily project in northwest San Antonio..

Broadstone Colonnade, at 4330 Spectrum One in San Antonio, is made up of 282 one-, two- and three-bedroom units featuring eight floor plans.

“This is a great infill asset located on Interstate 10 across from the largest employer in San Antonio (USAA). It has a lot of potential to be renovated and push rents to keep up with the new construction in the area,” said Ryan Epstein, Executive Vice President at CBRE.

In the last two years, significant capital improvements have been completed to the exterior, including new roofs, exterior paint, gutters and window screens. There is a significant value-add opportunity at Broadstone Colonnade for additional revenue generation through unit interior upgrades.

Charles Cirar, Ryan Epstein, and Michael Wardlaw, with CBRE, represented the seller.

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