SAN ANTONIO – (Realty News Report) — The Barvin Group, a Houston-based multifamily investment, development and management firm, has purchased the Rivera apartment community located in San Antonio’s Broadway Corridor, an area quickly evolving into a vibrant live-work-play district.
The seller was Cypress Real Estate Advisors, an Austin-based investment firm. Cypress was represented by Newmark Knight Frank Vice Chairman Patton Jones and Managing Director Matt Michelson.
“With convenient access to the River Walk and the Pearl District, Rivera drew strong interest from investors seeking a luxury asset in the heart of San Antonio’s urban core,” Jones said.
Completed in 2017, Rivera is a 302-unit community strategically situated between downtown San Antonio and the popular Pearl District. The property offers resort-style amenities, including a large pool terrace, a rooftop lounge with sweeping skyline views, a modern fitness center, and ground-floor retail. With direct frontage on Broadway Street, Rivera represents one of the most desirable living options just outside the central business district.
“Rivera residents are surrounded by the city’s top entertainment and dining options, supporting the vibrant, around-the-clock lifestyle sought by young professionals,” Jones added.
Alongside the established Pearl District, which features many of the city’s notable restaurants and shops, the Broadway Corridor continues to be revitalized into a mixed-use destination. Developers are building more than a million square feet of new space, including commercial retail, office buildings, and hospitality projects.
Previously, Matt Greer, executive managing director of NKF’s debt and structured finance group in Austin, arranged refinancing for Cypress Real Estate Advisors on Rivera in 2017.
In addition to Rivera, the Barvin Group owns the Soap Factory Apartments at 500 North Santa Rosa Street in San Antonio.
Jan. 9, 2020 Realty News Report Copyright 2020
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