Market Overview

Embrey Partners Closes on West Avenue Development

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SAN ANTONIO--(BUSINESS WIRE)--

San Antonio-based Embrey Partners, Ltd. has closed on a new urban infill project, located on West Avenue along the Wurzbach Parkway extension in north central San Antonio. Groundbreaking on the 29-acre site will begin in mid-November 2012, with the clubhouse opening in the fall of 2013 and first occupancy beginning in early 2014.

When completed, the community will be home to a lower density development consisting of luxury townhomes and one- and two-bedroom flats. This luxurious class “A” community of 360-units will feature floor plans ranging from 613 square feet to 1,830 square feet, complete with backyards and two-car garages.

Interiors will come in urban signature finishes including granite countertops, designer lighting and plumbing packages, garden tubs and stainless steel appliances. The development will also feature an urban, sleek clubhouse that includes a 24-hour state-of-the-art fitness center, aqua lounge and resort-style swimming pool.

The 29-acre site will feature ample open space, including a 4-acre nature sanctuary, site clearing of invasive species, the preservation of existing trees and planting of new trees that extensively promotes the tree canopy that will be in compliance with the San Antonio Tree Ordinance.

Construction financing provided by BBVA Compass and equity financing from Nationwide.

About Embrey Partners

Embrey Partners is a developer, builder and manager of market rate multi-family and commercial assets in select markets across the United States. Over the past 37 years, Embrey has developed real estate projects totaling nearly 30,000 apartments and more than six million square feet of commercial space. Partnering with major financial institutions, pension funds, individual investors and Fortune 500 companies, Embrey has completed these developments for individual investment purposes, on a third party basis and through joint venture transactions. For more information, visit online at www.embreydc.com.

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Embrey
Debi Pfitzenmaier, 210-669-6911
debi@pfitzpr.com

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