Newmark completed the sale of Maxwell Townhomes, a 316-unit value-add multifamily community located in North Central San Antonio, Texas.
The property traded from Resource REIT, Inc. to Orion Real Estate Partners. Newmark Vice Chairman Patton Jones and Managing Director Matt Michelson represented Resource REIT, Inc. in the transaction.
Maxwell Townhomes is located at 11146 Vance Jackson Rd. in San Antonio. The townhome-style asset features a mix of one-, two- and three-bedroom units with an average unit size of 1,016 square feet. Originally built in 1982, the seller made improvements to the exterior and common areas over the past several years. The property is positioned on a 23-acre site, allowing for amenity features including two swimming pools, fitness center, clubhouse with iLounge, playground, putting green, sport court and dog park.
The property is proximate to several major employment centers, with an employment base of 173,314 within a five-mile radius. Major area employers include Valero Energy, The University of Texas at San Antonio, Acelity, USAA, the South Texas Medical Center, Hulu, NuStar Energy and Medtronic. Maxwell Townhomes is located in proximity to several mixed-use, retail and entertainment destinations including Park North Shopping Center, North Star Mall, Huebner Oaks, The Rim and The Shops at La Cantera.