SAN ANTONIO (Aug. 1, 2019) – Berkadia announces it has arranged the sale of Axio Apartments, a 360-unit garden style apartment community in San Antonio. Managing Director Mike Miller, Senior Director Will Caruth, Director Chris Ross and Director Cody Courtney of Berkadia’s San Antonio office represented the seller, Presidium Group, a real estate investment firm based in Texas.
“Axio Apartments exemplifies the upside potential that exists throughout San Antonio’s multifamily inventory,” said Caruth. “With almost 20,000 new residents moving to San Antonio over the past year due in part to its affordability, the demand they bring has elevated rent growth above the national average, making it a compelling market for investors.”
Built in 1982 and renovated in 2016, Axio Apartments is located at 8722 Cinnamon Creek Drive. One-, two- and three-bedroom units feature dishwasher, disposal, range and walk-in closets. Community amenities include fitness center, pool, basketball court, tennis court and volleyball court.
Situated in northwest San Antonio, Axio Apartments is located near major employers and transit routes. The USAA Corporate Headquarters is less than a minute away and South Texas Medical Center is under 10 minutes away. Interstate 10 is about 2 miles away, providing direct access to Interstate 410 and Downtown San Antonio.