San Antonio Community: Houston Multifamily Firm Buys

In The Barvin Group of Houston purchased a 302, unit apartment project in San Antonio.

In San Antonio, The Barvin Group, a Houston-based multifamily investment, development and management firm, has purchased the Rivera multifamily community in San Antonio’s Broadway Corridor, a district that is rapidly transforming into a true live-work-play destination.

In The seller, Cypress Real Estate Advisors, an Austin, based real estate investment firm was represented by Newmark Knight Frank Vice Chairman Patton Jones and Managing Director Matt Michelson.

“With easy access to the River Walk and the Pearl District, Rivera attracted an array of investors eager to acquire a luxury asset in the heart of San Antonio’s urban core,” Jones said.

Completed in 2017, 302-unit Rivera is uniquely positioned between downtown San Antonio and the popular Pearl District. The property features resort-style amenities, including an expansive pool terrace, a rooftop lounge with dramatic skyline views, state-of-the-art fitness center, and ground floor retail. Rivera boasts Broadway Street frontage, putting it in the middle of one of the most sought-after living options outside of the central business district.

“Rivera residents are surrounded by the city’s hottest entertainment, catering to the vibrant, 24-hour lifestyle desired by young professionals,” said Jones.

Along with the established Pearl District, which features some of the city’s most renowned restaurants and retail, the Broadway Corridor continues to be revitalized into a multi-use destination with over a million sq ft of development under construction, including commercial space, office space, and hospitality.

Previously, Matt Greer, executive managing director for NKF’s debt and structured finance group in Austin, facilitated the refinancing of Rivera for Cypress in 2017.

In San Antonio, the Barvin Group also owns the Soap Factory Apartments at 500 North Santa Rosa St.