Newmark Brokers Sale of 339-Unit Apartment Building in Downtown San Antonio

SAN ANTONIO — Newmark has brokered the sale of Encore SoFlo, a 339-unit apartment building located at 326 S. Flores St. in downtown San Antonio. Built in 2019, the property offers studio, one- and two-bedroom units with an average size of 809 square feet. Amenities include a pool with a bar, courtyards with fire pits and grilling stations, clubhouse with a media room, business center with conference facilities, a fitness center, game room and a dog run. Matt Michelson and Patton Jones of Newmark represented the seller, Encore Multifamily, in the transaction. Hank Glasgow and Braden Harmon of Newmark arranged acquisition financing on behalf of the buyer, Dallas-based private equity firm SPI Advisory. Encore SoFlo was 92 percent occupied at the time of sale.