Excellent North Central Location: Hallmark benefits from an excellent location adjacent to North Star Mall in the highly desirable north central submarket of San Antonio. The property boasts ease of access in all directions and is convenient to the inner Loop 410 and Hwy 281 intersection, only minutes from the San Antonio International Airport. The adjacent mall serves as a substantial employment hub for the area and a major driver of new tenants to the property as the majority of new resident prospects are walk-ins attributed to the mall’s proximity. Hallmark is within walking distance to a new VIA Bus Terminal on the VIA Bus Line. Ridgeview Elementary, located just southeast of the property, provides another strong anchor promoting family occupancy for the property which is comprised almost entirely of two-bedroom units. Units average more than 1,000 square feet making them significantly larger than most competing options in the immediate area.
Healthy Economic Fundamentals and Demand Drivers: The Hallmark Apartments are strategically positioned within minutes of several flourishing employment centers in north San Antonio. In addition to North Star Mall which provides employment for a number of the residents, the property lies within the Airport District employment hub which consists of over 150,000 jobs within a six mile radius. The airport itself supports over 51,000 jobs directly and indirectly, and continues to grow year over year. Additional nearby shopping includes HEB, Target, and Alamo Quarry Market, a 580,000 square foot open air complex which boasts some of the finest shopping, dining and entertainment the city has to offer. With over a dozen restaurants and more than 60 retail stores, Alamo Quarry Market is a landmark consumer destination and strong employment driver.
Strong San Antonio Multifamily Submarket: Hallmark is located in the high barrier to entry north central submarket, which has experienced continuous growth, strong occupancy rates and increasing rents. San Antonio Metro employers have added almost 27,000 jobs in the last four quarters, expanding employment by 3.1%. Class C properties like Hallmark have made the largest gains in effective rent growth over the past year, and the north central submarket is the second strongest in San Antonio with an average vacancy rate of 4.4%. Healthy fundamentals and job creation dictate that these trends should continue.
Financing: This investment is being offered on an all cash basis, allowing for unrestricted financing options and the ability to capitalize on today’s historically low interest rates.
To view the complete Offering Memorandum, please submit the Hallmark Confidentiality Agreement.
For additional information, please contact:
Joe James | email@example.com | 512-338-7852
Kent Myers | firstname.lastname@example.org | 512-338-7853
Reynold Toepfer | email@example.com | 512-338-7866
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The James-Myers Multifamily Team of Marcus & Millichap participated in the sale of more than 63 transactions since 2007 totaling over 13,000 units and more than $730 Million in sales across Texas. Contact us for acquisitions, dispositions, property evaluations or market information for your Texas apartments.