Dallas-based Multifamily Private Equity Company Enters San Antonio Market with 2-Property Acquisition
Dallas-based Multifamily Private Equity Company Enters San Antonio Market with 2-Property Acquisition
PRESS RELEASE | Aug 24, 2021
SPI Advisory, LLC
SPI Advisory acquires Birwood Heights and Southtown Flats after recognizing the high-growth potential of the San Antonio Multifamily market.
SOUTHTOWN FLATS (left), BIRWOOD HEIGHTS (right)
SPI continues its expansion in Texas Multifamily with its entry into the San Antonio market. The first of these two properties to close was Birwood Heights, which closed on August 11th, 2021. The other multifamily property, Southtown Flats, closed on August 19th, 2021.
“We are very bullish on San Antonio Multifamily and believe it’s a great time to enter the market,” said Michael Becker, Principal, and Co-Founder of SPI Advisory. “The supply/demand fundamentals are in excellent shape, and we project many years of solid economic growth ahead.”
Located just off the highly-traversed Loop in Northern San Antonio, the Birwood Heights Apartments boasts 312 individual units with state-of-the-art complex amenities such as a Media Center, 24-hr Fitness Center, Cyber Café, Clubhouse, Resort Style Pool, and Volleyball Court.
Some key attributes about Birwood Heights that make it attractive are the quality of the surrounding school district, its proximity to popular shopping centers like The Shops at La Cantera, and the region’s high concentration of San Antonio’s top employers.
20 miles south, in the hub of Central Downtown San Antonio is Southtown Flats. Situated in an area popular for its walkability and proximity to restaurants, retail, entertainment, and recreation, Southtown Flats is very desirable for tenants. It boasts 229 upscale units furnished with Stainless Steel Appliances, Walk-In Closets, Quartz Countertops, Balconies, and Island Kitchens. Residents also enjoy taking advantage of Southtown’s attractive amenities like its Roof Terrace, Business Center, Yoga Studio, Courtyard, Clubhouse, and Grilling Station.
“We feel fortunate to enter the market with two high-quality properties like Birwood Heights & Southtown Flats.” Said Sean Mabarak, Principal and Co-Founder of SPI Advisory. “We are actively seeking to acquire additional properties with similar characteristics as these as we expand our San Antonio presence.”