Newmark : Announces Sale of Trailside, a 240-Unit, Multifamily Property in San Antonio, Texas

November 22, 2022 7:00 AM

Newmark announces the sale of Trailside, a 240-unit multifamily community at 8120 Mainland Drive in northwest San Antonio, Texas. Newmark's Senior Managing Directors Jim Young and Matt Michelson and Director Chase Easley represented the undisclosed seller in the sale to a joint venture between Cottonwood Management, LLC, a private equity real estate investment firm, and Dallas-based Texsun Holdings (Texsun).

"Trailside presented investors with a compelling value-add investment opportunity in the fast-growing northwest submarket of San Antonio," said Young. "All parties worked diligently to complete this off-market transaction, and Texsun is primed to capitalize on an outstanding acquisition."

The asset, which was 94 percent occupied at the time of sale, features one- and two-bedroom units ranging in size from 662 square feet to 982 square feet. Residences come equipped with all-electric kitchens, breakfast bars, pantries, walk-in closets, ample storage and balconies or patio spaces. Various on-site amenities include a business center, a clubhouse, a state-of-the-art fitness center, a pool and a dedicated picnic area featuring gas grill stations.

Located in the heart of San Antonio, Trailside benefits from ample entertainment and dining within walking distance, convenient access to a variety of nearby public parks and proximity to major freeways, like I-410, and the nearby San Antonio International Airport.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, startups to blue-chip companies. Combining the platform's global reach with market intelligence in established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of approximately $3.1 billion for the twelve months ending September 30, 2022. Newmark's company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.