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Flournoy Development Sells Recently Completed Apt. Complex in San Antonio's Medical District

248-Unit Chroma Complex Changes Hands
December 26, 2017
Flournoy Development Co., a real estate development, construction and management company out of Columbus, GA, has sold the 248-unit Chroma complex at 5039 Hamilton Wolfe Rd. in San Antonio to an undisclosed buyer.

The Class A community delivered in late 2016 near the Huebner Oaks shopping retail center, University Hospital University Health System and Methodist Hospital in northwest San Antonio’s Medical District Multifamily submarket. The complex offers one- and two-bedroom units, along with amenities that include a game room, business center, fitness center, and dog park.

Ryan Epstein, Will Caruth, Mike Miller, Chris Ross and Cody Courtney with Berkadia Real Estate Advisors' Houston and San Antonio offices represented the seller.

"We’re seeing an appetite for multifamily assets that are not only new, but that also offer exceptional locations in well-performing submarkets,” said Epstein. “Investors are looking for properties that offer a range of high-quality amenities, as well as close proximity to major thoroughfares and employment hubs in the city.”

Please see CoStar COMPS #4087010 for more information on this transaction.
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