Embrey Acquires Second Apartment Community in the Greater San Antonio Area￼
SAN ANTONIO , Nov. 2, 2022 /PRNewswire/ — A 252-unit multifamily property, Gardens at West in San Antonio, Texas, has been acquired by Embrey, a diversified real estate investment company.
The property, built in 1995, will be rebranded to The Hayden on West Ave. The company’s nationally recognized and award-winning Embrey Management Services will take over property management.
The community’s ideal North Central location, adjacent to Highway 281 between Loop 410 and Loop 1604, provides convenient access to anywhere in the city. The area offers an outstanding employment base of more than 131,000 jobs within a five-mile radius. Nearby major employers include Amazon, Methodist and Baptist hospitals, Valero Energy, USAA, and more.
“This community is in one of the most stable rental markets in the country and offers residents a sophisticated yet casual atmosphere with resort-class amenities, nearby walking trails and quick access to downtown,” said Alex Sampson, Vice President of Acquisitions at Embrey. “We plan to fully renovate the property, elevating the resident experience to market standards. With this centralized location and the high-demand rental market in San Antonio, this is a terrific investment for Embrey.”
The Hayden on West Ave exemplifies Embrey’s value-add investment approach. With no properties under construction within a three-mile radius, a desirable location, a planned unit interior, and amenity renovation, and a rebrand to The Hayden on West Ave, this community will appeal to the modern San Antonio renter.
“This acquisition signifies the momentum of our acquisition platform and capital base,” says Sampson. “Marking the second acquisition in the greater San Antonio area, we will continue to seek opportunities like this to create value for our capital partners.”
Embrey worked with PCCP, LLC on this acquisition, with debt funded by Comerica. Newmark sales brokers Matt Michelson and Pat Jones and debt brokers Tyler Nowlin and Andy Hill of Berkadia assisted in the transaction.