Jones & Rio, a 191-unit property located at 111 W. Jones Ave., is now available for purchase by New York-based Benefit Street Partners and New Jersey-based Strategic Properties of America. This marks the second property that the owners have recently listed for sale, with the first being August Flats, a 260-unit complex put on the market in September. Situated in San Antonio’s River North area and adjacent to the popular River Walk attraction, this site offers an ideal location for potential investors.
According to recent reports from The San Antonio Business Journal, no specific asking price has been disclosed yet; however, based on a 2023 appraisal from Bexar Appraisal District,the property was last valued at $45.1 million.The marketing efforts are being led by JLL’s Robert Arzola.
This prime piece of real estate spans over55,400 square feet and benefits from partial tax abatement through participation in Center City Housing Initiative Policy (CCHIP) incentive program.This makes it an attractive investment opportunity for savvy apartment investors looking to capitalize on its desirable location and potential financial incentives.
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