Avia Equities Expands Into San Antonio With Acquisition Of Blair At Bitters

Avia Equities has added Blair at Bitters, a 190-unit garden-style community in San Antonio, Texas, to its Central Texas portfolio. The acquisition reflects the firm’s focus on well-located, attainable housing in high growth markets and advances a value-add business plan that targets interior and exterior renovations, along with upgrades to common areas and amenities to enhance resident experience.

Blair at Bitters includes a mix of one- and two-bedroom floor plans, onsite parking, and community amenities typical of high-quality suburban multifamily properties in the market. The purchase was financed with Freddie Mac debt.

San Antonio continues to be a significant market for multifamily investment, supported by steady population growth and a diversified employment base across healthcare, defense, finance, cybersecurity, and hospitality. The metro has added tens of thousands of residents in recent years and has maintained an unemployment rate below both the Texas and U.S. averages, indicators of resilient labor market conditions and ongoing in-migration.

“We are excited to add Blair at Bitters to the Avia portfolio and to establish our presence in the San Antonio market, said Mike Mortazavi, Founder of Avia Equities. This community offers strong fundamentals, an excellent infill location, and a clear value add path through thoughtful renovations and hands on management. We view this acquisition as the first of many investments in San Antonio and look forward to being a long term partner in the city s growth.”

For owners and operators, the transaction underscores a continued focus on attainable suburban product where active asset management and modest capital improvements can drive performance while meeting demand from households seeking stability and access to growing job centers. For the San Antonio market, the acquisition represents ongoing investor interest in assets that can be upgraded to better serve residents and align with local growth patterns.

Multifamily Leadership will continue to track transactions and operator strategies in Central Texas as firms pursue both acquisition and asset management approaches that respond to shifting renter preferences and market fundamentals.