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3714 Binz Engleman Rd. - San Antonio, TX 78219
PROPERTY OVERVIEW
Artisan at Salado Falls is a 252-unit affordable housing community located in San Antonio, TX. The property is conveniently situated minutes from major retailers including Walmart Supercenter, H-E-B, and Target. Numerous restaurants, outdoor recreation, schools, Joint Base San Antonio - Fort Sam Houston, and major transportation arteries, including I-35 and I-410, are nearby as well.
The property was built and placed in service in 2007 & 2008 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 60% of the Area Median Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs. The property is beyond its initial compliance period.
Artisan at Salado Falls offers one, two, and three bedroom apartment homes featuring an array of unit and community amenities.
The property is located within a mile of the Brooke Army Medical Center, a 425-bed academic medical center with a staff of approximately 8,500 and the only Level 1 Trauma Center within the Department of Defense
Conveniently situated just 7 miles Northeast of downtown San Antonio and has a median household income of over $86,000 within one mile of the property per Yardi
The MSA has experienced fantastic income growth over the last several years, with the HUD Median Family Income increasing from $62,100 in 2016 to $88,600 in 2023, which has directly resulted in strong growth in the LIHTC rental limits
The LIHTC Restrictions are set to expire at the end of 2037, allowing for a conversion to market at that time
INVESTMENT HIGHLIGHTS
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
6225 N. Meeker Pl.
Suite 210
Boise, ID 83713
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Jeff Irish
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Affordable Housing
208.286.5013 jeff.irish@berkadia.com
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INVESTMENT ADVISORS
ADAM TOMBERG
Director
Affordable Housing
425.999.1152
adam.tomberg@berkadia.com
Managing Director
Multifamily
210.377.1535
mike.miller@berkadia.com
Mike Miller
250 W. Nottingham
Suite 120
San Antonio, TX 78209
San Antonio OFFICE
MORTGAGE BANKING
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
PROPERTY Stats
252
UNITS
2007 & 2008
Built
249,980
sF
