The disposition of an 828-unit portfolio comprised of three assets located in San Antonio, Texas – The Maxwell, Spice Creek and The Clara (f/k/a The Joule) was completed on January 25th, 2023 by Frisco, Texas-based Multifamily Acquisition Advisors and Irvine, California-based Blackhawk Property Holdings. New York-based Harbor Group International was the purchaser.

MAA views long-term fundamentals in the multifamily sector as extremely robust. This disposition manifests MAA and partners’ current portfolio management strategy of locking in profits and/or reducing variable-rate debt exposure where applicable in the face of short-term market uncertainty.

Amber Romasanta and Nadia Hepner of San Antonio-based Kairoi Residential supervised property management of the assets for MAA Blackhawk during the hold period. During the sale, they continued to achieve superior operating results while simultaneously coordinating the extensive property-level obligations of a large sale. Matt Michelson, Senior Managing Director of San Antonio-based Newmark, exclusively offered the portfolio and deftly managed a challenging and complex marketing and closing process in a volatile environment.

We continue to selectively seek well-located multifamily opportunities with legitimate value-add components in attractive U.S. markets. We wish you good health and all the best in your multifamily activities.