Autumn Brook. Image via Google Maps
Goldmark Property Management has sold the 124-unit Autumn Brook in San Antonio to DJE Texas Management Group. The new owner—which now owns more than 1,100 units in central Texas—financed the acquisition with a $7 million loan from Hunt Real Estate Capital, according Bexar County public records. The financing is set to mature in 2022 but provides an extension option until 2024. The buyer intends to invest more than $600,000 in capital improvements, for both the interiors and the exteriors.
Located at 11726 West Ave. close to several retail and dining options, the property is less than 5 miles from the San Antonio International Airport and roughly 12 miles north of downtown San Antonio. The community was completed in 1972 on a 4.6-acre site and comprises efficiency, one-, two- and three-bedroom apartments with floorplans ranging from 540 to 1,250 square feet. The 21-building asset includes amenities such as a pool and laundry facilities. Per Yardi Matrix information, Autumn Brook was 95.2 percent occupied as of April.
Recently, the 75-unit Nexus Urban Living in San Antonio traded. Hunt Real Estate Capital originated a $4.9 million Freddie Mac for the new owner.