Multifamily Construction Capital

Meeting Market Demand Needs

C2022-147_photo4 Webiste Template Photo (624 × 391 px)

Project Description

Broadmark Realty Capital (NYSE: BRMK) finances an established Texas-based investor for the construction capital of a 324-unit class A garden-style multifamily investment opportunity in Northwestern San Antonio for $52.85M. The demand for apartment housing in San Antonio continues to be strong compared to other regional submarkets. This is primarily due to more land being available for development on the city’s western side. There are currently 1,846 units under development in San Antonio. In the previous 12 months, San Antonio saw 695 delivered units and total absorption of 797. Even with increased deliveries, absorption continues to outpace current inventory. In the past 12 months, rent has risen 9%, and vacancy has declined to 6.98% in the San Antonio market.

Loan Details

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San Antonio, TX

Broadmark logo

September 2022

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$52,850,000

Contact Information

Dustin Gabriel

Dustin Gabriel, Central Region

Matt Hittson, Central Region

Tom Gunnison, Central Region

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