{"id":1004050475,"date":"2012-10-15T21:37:07","date_gmt":"2012-10-16T05:37:07","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=74046"},"modified":"2020-04-02T10:59:09","modified_gmt":"2020-04-02T18:59:09","slug":"aragon-adds-m-f-property-to-growing-san-antonio-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/aragon-adds-m-f-property-to-growing-san-antonio-portfolio\/","title":{"rendered":"Aragon Adds M-F Property to Growing San Antonio Portfolio"},"content":{"rendered":"<p>By Camelia Bulea, Associate Editor<\/p>\n<p>California-based Aragon Holdings has purchased a 228-unit Class B property in North <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/carmel-at-deerfield-SA.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-74047\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/carmel-at-deerfield-SA.jpg\" alt=\"\" width=\"300\" height=\"205\" \/><\/a>Central San Antonio. The Carmel at Deerfield apartment complex brings the real estate investment fund&#8217;s portfolio to \u00a0six apartment complexes and a total of 1,248 units in the Alamo City.<\/p>\n<p>Apart from the Carmel property, the company\u2019s San Antonio portfolio also includes:<\/p>\n<ul>\n<li>Las Brisas Apartments \u2013 176 units<\/li>\n<li>The Lexington Apartments \u2013 72 units<\/li>\n<li>Timbermill Apartments \u2013 296 units<\/li>\n<li>Windridge Apartments \u2013 276 units<\/li>\n<li>Regatta \u2013 200 units<\/li>\n<\/ul>\n<p>Carmel at Deerfield, constructed in 1985, is currently 99 percent occupied. Amenities of the garden-style community include a fitness center, tennis court, basketball court, swimming pool and spa, business center and clubhouse. Apartments feature private patios or balconies, large walk-in closets, well-appointed kitchens, ceramic-tiled bathrooms, wiring for intrusion alarms, and fireplaces and built-in bookshelves in some units.<\/p>\n<p>Several of San Antonio\u2019s largest employers are located within eight miles of the subject property, including USAA, The South Texas Medical Center and Valero&#8217;s world headquarters.<\/p>\n<p>The acquisition also marks the fund\u2019s 16th purchase nationwide in the past four years, a total of more than 4,000 apartment units, according to a company news release. In the past six months alone, the company spent over $100 million on multi-family assets.<\/p>\n<p>Aragon Holdings will continue to expand its portfolio with the acquisition of multi-family properties in cities that have positive job and population growth, said Larry Clark, president of Aragon Holdings, in a news release.<\/p>\n<p>According to a recent Marcus &amp; Millichap report on San Antonio\u2019s apartment market, investors are attracted by the city&#8217;s multifamily properties due to their comparatively attractive returns. Due to limited constru<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/sanatp.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-74048\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/sanatp.jpg\" alt=\"\" width=\"293\" height=\"300\" \/><\/a>ction last year, large investors are targeting 1990s to early-2000s product. Additionally, transaction velocity rose more than 10 percent over the past 12 months, driven by stronger sales in the 100- to 200-unit and 300-plus-unit segments.<\/p>\n<p><em>Photo courtesy of Aragon Holdings<\/em><\/p>\n<p><em>Chart courtesy of Marcus &amp; Millichap<\/em><\/p>\n<p>For more news from San Antonio, <strong><a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-strong-employment-mortgage-financing-woes-keep-apartment-demand-high-in-san-antonio\" target=\"_blank\" rel=\"nofollow\">click here<\/a>.<\/strong><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>California-based Aragon Holdings has purchased a 228-unit Class B property in North Central San Antonio. The Carmel at Deerfield apartment complex brings the real estate investment fund&#8217;s portfolio to  six apartment complexes and a total of 1,248 units in the Alamo City.<\/p>\n","protected":false},"author":1269,"featured_media":1004506188,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1607],"tags":[],"class_list":["post-1004050475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-san-antonio"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Aragon Adds M-F Property to Growing San Antonio Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/aragon-adds-m-f-property-to-growing-san-antonio-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aragon Adds M-F Property to Growing San Antonio Portfolio\" \/>\n<meta property=\"og:description\" content=\"California-based Aragon Holdings has purchased a 228-unit Class B property in North Central San Antonio. 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