Briggs Ranch Portfolio

San Antonio, TX, US, Americas

Description

JLL is pleased to present the exclusive opportunity to acquire a two-property, 792-unit portfolio, in Far West San Antonio. The portfolio, consisting of Park at Briggs Ranch (424 units, 2013 vintage) and Villages of Briggs Ranch (368 units, 2014 vintage), represents a significant opportunity to acquire these neighboring properties with direct operational synergies at a deep discount to placement cost. Park at Briggs Ranch and Villages of Briggs Ranch are located in one of San Antonio’s fastest growing areas, and feature scenic views overlooking the greens of the Golf Club of Texas golf courses.

Park at Briggs Ranch and Villages of Briggs Ranch enjoy seamless connectivity to downtown San Antonio via Loop 1604 and US 90, while providing access to rich outdoor amenities, including Golf Club of Texas, Briggs Ranch Golf Club, and Henrick Arnold Nature Park. Together, Park at Briggs Ranch and Villages of Briggs Ranch have significant operational upside through staff sharing and complementary unit mixes in the of the most advantageous areas of San Antonio given the exceptional quality of living, scenic surroundings, and swift access to downtown San Antonio. This premier community offers long-term income growth potential supported by San Antonio’s robust population and economic expansion.

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Attributes

Number of units

792

Year built

2014

Building area gross

71,907 m²

Land area gross

18.8 ha

Briggs Ranch Portfolio (2 Properties)

Media

Investment Highlights

Deep discount to replacement cost
Operational upside and complimentary unit mixes.
Billions in public and private funding in Far West San Antonio

The narrative of "billions in public and private funding" in Far West San Antonio is not an exaggeration. It is a verifiable, quantifiable reality that is shaping this submarket. These investments in high-wage job creation ($9 billion in economic impact from Port San Antonio), and lifestyle amenities (over $60 million in Santikos Entertainment) are creating a durable and sustainable foundation for long-term growth.

Buying on Bottom

In the last five years, Far West San Antonio has experienced a large supply wave, approximately 6,400 units or 21% of the total deliveries in San Antonio. The far west submarket is not immune to the impacts of large amounts of supply leading to an 18% decline in rents since peak in the third quarter of 2022. While rents have declined, the submarket has experienced robust absorption in line with the amount of supply: roughly 4,600 units in the last five years or 19% of San Antonio’s overall absorption. Demand has outweighed supply and hit record absorption numbers in the submarket for the previous two quarters. Robust demand combined with the impending supply cliff sets up the Far West corridor for consistent rent growth over an investor’s hold period and presents a unique opportunity to acquire an asset at bottom.