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Berkadia’s San Antonio Multifamily Investment Sales Team is pleased to announce the exclusive listing of Broadstone Colonnade, The “Property”, a 282-unit core plus opportunity paired with a tax-advantage Housing Facility Corporation (HFC) located in the flourishing Northwest submarket of San Antonio. Built in 2005, Broadstone Colonnade spread across 9.32-acres and is comprised of 8 three-story apartment homes with vibrant stucco siding, pitched composite roofs, and commercial utilities.
The Property offers nine floor plans tailored to market demand with an average unit size of 827 square feet. Future ownership has the opportunity to upgrade an estimated 50% of the interiors, that will result in healthy premiums in excess of $100 per unit. Paired with the tax-savings associated with the HFC program, new ownership can expect a 100% Tax Abatement benefit. The property offers investors a tremendous opportunity for future rent growth, long-term stability and value appreciation. Broadstone Colonnade is being offered all cash and is available for financing.
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Office:
San Antonio
250 W Nottingham drive Suite 120 San Antonio, TX 78209
Producers
Cody Courtney
Senior Director Cody.Courtney@berkadia.com 210.377.1219
Adam Sumrall
Director
512.960.2674 adam.sumrall@berkadia.com
Justin Chambers
Director
512.969.6838 justin.chambers@berkadia.com
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Outstanding Economic Momentum in the Northwest-Medical Center Submarket
Driven by high-paying jobs and sustained employment performance, the demographics surrounding Broadstone Colonnade are some of the strongest throughout San Antonio. The current median household income in Northwest Bexar County stood at $81,700. The exceptional demographics of the immediate area bode well for Broadstone Colonnade to capture top-tier rent levels and continue to grow rents as wages continue to rise.
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Prime Interior & Exterior Value Add Enhancement Opportunity
Broadstone Colonnade presents investors with immediate upside potential across multiple avenues including interior renovations and exterior capital improvements. Through capital infusion including a systematic interior upgrade program and community amenity improvements, new ownership will capture healthy rent premiums of more than $100 per unit and will significantly position the property as a priority choice within the submarket.
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Strategic Tax Benefits for Enhanced Yield
Broadstone Colonnade is partnered with a Housing Facility Corporation (HFC) yielding the dual benefit of high quality, mixed income housing for residents and enhanced yield to a prospective buyer. By qualifying for the HFC program, the Property received a tax exemption credit, securing a 100% tax abatement that significantly offsets the initial investment and increases annual returns. These incentives not only improve the financial viability of Broadstone Colonnade but also contribute to the availability of housing in the area.
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Cutt Abelson
Senior Managing Director
713.469.4503
Cutt.Abelson@berkadia.com
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Cutt Abelson
Senior Managing Director
713.469.4503
Cutt.Abelson@berkadia.com
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Cody Courtney
Senior Director cody.courtney@berkadia.com
210.377.1219
Will Caruth
Managing Director will.caruth@berkadia.com
210.377.2768
Easy Access to Major Employers
Broadstone Colonnade enjoys a prime location that capitalizes on the arterial I-10 highway providing quick access to destinations throughout the MSA, further enhancing community connectivity. Residents appreciate the property's proximity to San Antonio's key lifestyle and employment centers, making its location a compelling draw for future tenants.
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Cutt Abelson
Senior Managing Director
cutt.abelson@berkadia.com
713.469.4503
Adjacent to Essential Retail
Located within close proximity to the subject property, the Colonnade Shopping Centers, Wurzbach Plaza, and Colonies North Shopping Center collectively offer a vast array of retail and dining options that enhance the lifestyle of tenants.
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Limited Development Landscape
The development pipeline within a three-mile radius of the property presents a unique opportunity for new ownership to capitalize on a selective growth environment. With only two projects currently in progress, the area is poised for limited competition, enhancing the property's appeal.
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High Barrier of Entry to Own Single Family Housing - Incentivizes Renting
San Antonio has been the beneficiary of incredible home appreciation in recent years, highlighting the strong demand to reside in the area. The median listed home price in Bexar County averaged $292,000 in 2024. Renters within the Northwest submarket on average pay $1,205 less in rent than the average monthly mortgage payment of $2,228.
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Strategic Tax Benefits for Enhanced Yield
Broadstone Colonnade is partnered with a Housing Facility Corporation (HFC) yielding the dual benefit of high quality, mixed income housing for residents and enhanced yield to a prospective buyer. By qualifying for the HFC program, the Property received a tax exemption credit, securing a 100% tax abatement that significantly offsets the initial investment and increases annual returns for the next 100 years. These incentives not only improve the financial viability of Broadstone Colonnade but also contribute to the availability of housing in the area.
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Robert Dinkins
Senior Financial Analyst robert.dinkins@berkadia.com 210.591.0846