Investment Highlights
The Property
Location
Photo Gallery
Contact
The Opportunity
Doc Center
Terms of Use
Executive Summary
Berkadia’s San Antonio Multifamily Investment Sales Team is pleased to announce the exclusive listing of Star Club Apartments, a 321-unit value-add opportunity located in the growing Northeast submarket of San Antonio. Built in 1975, Star Club is situated on nearly 16.29-acres and comprised of 38 two-story buildings with wood siding, pitched shingle roofs and commercial utilities. The property offers ten sizable floor plans with an average unit size of 1,133 square feet.
Unit interiors feature partially renovated finishes, spacious living areas, wood-inspired flooring, generous storage space, and a fully-equipped kitchen with black appliances, cabinet hardware, and faucets.
In addition, the community features include two resort-style swimming pools and sundeck, 24-hour fitness center, controlled gate access, children’s playground, barbecue stations with picnic tables, clothes care centers, package receiving service and covered parking. Star Club is being offered as a Loan Assumption.
Value-Add Opportunity
Emerging San Antonio Location
Star Club is well-positioned near many dynamic employment centers in the area with convenient access to businesses along the ever expanding I-35 corridor that reaches up to New Braunfels, San Marcos, and Austin. Major employers such as Northeast Baptist Hospital, TaskUs, Caterpillar, Joint Base San Antonio and Northeast Methodist Hospital in the area all call the Northeast corridor of San Antonio home. Additionally, the northeast submarket is one of the most dynamic and developing submarkets in South Texas, making Star Club’s location attractive to potential residents and long-term investment.
Photo GALLERY
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/.
cameron hart
Director
512.226.8708
cameron.hart@berkadia.com
Mike Miller
Managing Director
210.377.1535
mike.miller@berkadia.com
Will Caruth
Senior Director
210.377.2768
will.caruth@berkadia.com
Investment Sales
Mortgage Banking
250 W Nottingham
Suite 120
San Antonio, TX 78209
San Antonio OFFICE
Office & Contact Information
BACK TO TOP
The Location
Value-Add Opportunity
Executive Summary
Terms of Use
Document Center
Contact
Photo Gallery
Star Club presents investors with tremendous, value-add upside potential across multiple avenues including interior renovations, exterior capital improvements and a more client centric management approach. New ownership will capture healthy rent premiums through capital infusion, including an interior upgrade program, community amenity improvements and the rebranding of this asset, in the range of $100-$150 per unit. This would realistically generate over $90,000 in additional revenue by averaging only $100 per upgraded unit if 25% of the property is renovated. These improvements will not only result in increased cash flow but aid significantly in tenant retention and market demand. These strategic value-add measures will not only revitalize Star Club but diversify it amongst additional assets within this submarket.
Cody Courtney
Director
210.377.1219
cody.courtney@berkadia.com
Berkadia’s San Antonio Multifamily Investment Sales Team is pleased to announce the exclusive listing of Star Club Apartments, a 321-unit value-add opportunity located in the growing Northeast submarket of San Antonio. Built in 1975, Star Club is situated on nearly 16.29-acres and comprised of 38 two-story buildings with wood siding, pitched shingle roofs and commercial utilities. The property offers ten sizable floor plans with an average unit size of 1,133 square feet.
Unit interiors feature partially renovated finishes, spacious living areas, wood-inspired flooring, generous storage space, and a fully-equipped kitchen with black appliances, cabinet hardware, and faucets.
In addition, the community features include two resort-style swimming pools and sundeck, 24-hour fitness center, controlled gate access, children’s playground, barbecue stations with picnic tables, clothes care centers, package receiving service and covered parking. Star Club is being offered as a Loan Assumption.
Cody Courtney
Director
210.377.1219
cody.courtney@berkadia.com