The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, announced this week it had facilitated the sale of the Glennwood Apartments in San Antonio. Managing Directors Chris Siemasko and Bryce Smith represented the seller and procured the buyer.
“It’s always a pleasure to work with repeat clients that trust in your ability to achieve the desired outcome. We are glad we were able to successfully navigate the COVID challenges that were thrown at us at the last minute and make it a win-win for everyone,” said Siemasko.
Glennwood sits on 6.36 acres and consists of 12 buildings off the corner of Blanco Road and Basse Road. The property is currently 100 percent occupied and consistently remains at this level due to the location’s strong fundamentals. The average rental rates for one- and two-bedroom units in the submarket ranked 3rd and 4th strongest growth out of the 45 San Antonio Submarkets. The new owners now have an opportunity to complete renovations on 85 percent of the units and increase rents by $170 per month.
The Multifamily Group has facilitated eight transactions in the San Antonio market in the past twelve months and is ranked the #2 Top Brokerage in San Antonio, according to Costar.