JLL Capital Markets announced that it has arranged the sale of NOVA Apartments, a 412-unit multifamily community in Northwest San Antonio, Texas.
JLL represented the seller, Metlife Investment Management.
NOVA Apartments, situated at 14200 Vance Jackson Road, offers residents quick access to major highways I-10 and Loop 1604, seamlessly connecting them to the greater area. The community is conveniently adjacent to The RIM and La Cantera districts, placing a variety of dining, shopping and entertainment options just moments away.
San Antonio is rapidly growing, with the highest net new residents among major metros from 2022 to 2023 and maintains a thriving multifamily market. As a hub for green spaces and education, it features over 101 miles of trails and the University of Texas at San Antonio. The city’s robust economy, bolstered by a large cybersecurity sector and major manufacturing investments, drives significant job growth, making it a prime location for renters despite rising mortgage costs.
NOVA Apartments, built in 2009 and sprawling across 31 acres, boasts a total rentable space of 352,912 square feet. Renowned for its timeless construction quality, the community competes strongly with Class A properties through its blend of renovated and classic units. Residents can enjoy an array of amenities such as resort-style pools, dog parks, an EV charger, a jogging trail and a state-of-the-art fitness center, enhancing the appeal of NOVA as a leading residential choice.
“The successful sale of NOVA Apartments underscores the strong demand in San Antonio’s vibrant multi-housing market,” said Arzola. “Its strategic location and quality amenities made it an attractive investment choice.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
