Silver Creek

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

Berkadia’s San Antonio Multifamily Investment Sales Team is pleased to announce the exclusive listing of Silver Creek, a 160-unit value-add opportunity located in the thriving Northwest submarket of San Antonio. Built in 1983, Silver Creek is situated on 6-acres and is comprised of 12 two-story apartment homes with mixed Hardie Plank and brick siding, pitched composite roofs, and commercial utilities. The property offers four streamlined floor plans tailored to market demand with an average unit size of 671 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. The property offers investors a tremendous opportunity for future rent growth, long-term stability and value appreciation. Silver Creek is being offered all cash and is available for financing.

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San Antonio 250 W Nottingham driveSuite 120San Antonio, TX 78209

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Cody Courtney

Senior DirectorCody.Courtney@berkadia.com210.377.1219

Adam Sumrall

Director 512.960.2674 adam.sumrall@berkadia.com

Justin Chambers

Director 512.969.6838 justin.chambers@berkadia.com

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Easy Access to Essential Retail and Major Employers

Silver Creek is ideally situated to reap the benefits of renown retail and shopping destinations that greatly enhances the connectivity of the community. Residents value proximity to San Antonio’s major lifestyle and employment drivers, and the Property’s fantastic location is a significant selling point for future residents. The University of Texas at San Antonio (Carnegie Classified R1 Research Institution, Texas Tier One Institution), Six Flags Fiesta Texas, Valero Energy (Forbes Global #177 out of 2000), La Cantera and The Rim (over 3M sq. ft of entertainment and retail) are all less than 20 minutes away from the Property and together comprise the economic engine of the submarket. Closer employment includes USAA’s Headquarters (Forbes 500), the South Texas Medical Center, H-E-B (Forbes 500), and the San Antonio International Airport are all within a short drive of Silver Creek. The Property is located just off Gus Eckert Rd. which provides quick access to Interstate Highway 10 and to Greater San Antonio. An abundant number of notable eateries, retailers and entertainment venues are situated near the Property. Top retail centers such as The Shops at La Cantera and The Rim which are home to high end stores such as Neiman Marcus and entertainment venues such as Top Golf, the Palladium movie theater and Bass Pro Shops. The property’s location provides residents with short commutes to significant economic drivers, many notable restaurants, and other entertainment venues within close and convenient proximity.

Outstanding Medical Center Submarket Economic Drivers waiting PND+

Driven by high-paying jobs and sustained employment performance, the demographics surrounding Silver Creek are some of the strongest throughout San Antonio. Current median household income in Northwest Bexar County stood at $81,774. The exceptional demographics of the immediate area bode well for Silver Creek to capture top-tier rent levels and continue to organically grow rents as wages continue to rise. An impressive percentage of residents have earned a bachelor's degree or higher peaking at 41% within the 3-mile radius. This educated populace contributes to a knowledgeable and skilled workforce, enhancing the area's economic potential. The workforce distribution across various sectors is well-balanced across 155,600 full-time employees, with a strong presence in Education & Health Services, reflecting the area's robust healthcare and educational infrastructure. The Financial Activities sector is particularly prominent, indicating a thriving financial services industry. Additionally, the Leisure & Hospitality sector is more significant suggesting a vibrant local culture and numerous recreational opportunities. The submarket surrounding Silver Creek Apartments showcases the area's attractiveness, with a well-educated workforce, strong household incomes, and a balanced housing market, making it an ideal location for both living and investment.

Excellent Interior Value Add Opportunity

Silver Creek 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 in excess of $100 per unit. The opportunity to upgrade the interiors with stainless steel appliances, new countertops, cabinet and lighting upgrades, faux wood flooring, updated plumbing fixtures, backsplash and 2” wood blinds would immediately result in rental premiums in excess of $100 per unit. There are washer and dryer connections in every unit and the opportunity presents itself to install and lease the equipment for an additional $40-60 premium. With the implementation of physical washer and dryers in every unit, the opportunity presents itself to convert the sole on-site clothes care facility into a dog washing station, a package locker room or another community amenity. Additional value can be created through adding exterior yards and technology package. Averaging $100 premiums on 73 units or 50% of the total units with interior renovations would realistically generate over $87,600 per year in additional revenue. These improvements will not only continue to revitalize Silver Creek but result in immediate upside and aid significantly in tenant retention. Through these value-add measures, the property will be considered a premier asset within this thriving submarket.

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Mortgage Banking

Cutt Abelson

Senior Managing Director 713.469.4503 Cutt.Abelson@berkadia.com

Mortgage Banking

Cutt Abelson

Senior Managing Director 713.469.4503 Cutt.Abelson@berkadia.com

Cody Courtney

Senior DirectorCody.Courtney@berkadia.com210.377.1219

Will Caruth

Managing DirectorWill.Caruth@berkadia.com210.377.2768