(OCTOBER 27, 2020 – HOUSTON) – Serac Capital Partners, LLC announced that it acquired Fountainhead Park I and II, two three-story Class A multi-tenant office buildings in the Northwest submarket of San Antonio, TX. The buildings, which sit on 12.47 acres, total 171,205 square feet and are currently 94% leased. They boast a balanced rent roll of globally recognized brands with substantial market capitalization. Eighty-four percent of the total square footage is leased to three credit tenants in the entertainment, communications, and industrial supply industries. 

“Very few buildings in the Northwest submarket of this quality and superior location have a parking ratio of over 6 spaces per 1,000 square feet,” said Ridley Goodpasture, a Vice President with Serac Capital. “The location’s easy access to I-10 and close proximity to loop 410 ideally position the buildings to accommodate a workforce living anywhere in San Antonio.”

Wm. Roger Gregory, Serac Capital’s CEO added, “Fountainhead Park will provide a strong foothold in a growing market that is often overlooked by investors. In addition to solid building fundamentals, we are able to take advantage of a Covid-19 discount and excellent bank financing.”

The Transwestern Capital Markets team representing the seller was led by Leah Gallagher, Hale Umstattd and Scott Myers. Kelly Ralston and Larry Mendez, also of Transwestern, will continue to lease the buildings. Endura Advisory Group will continue to provide property management.  

Debt and equity were arranged by Arnie Azios and Larry Schanzmeyer with The Houston Group/Realty Advisors, Inc. Woodforest National Bank provided the debt financing.   

Three of the tenants in the building undertook nationwide searches before they ultimately selected San Antonio and Fountainhead Park as their ideal office location. The buildings’ flexible and efficient floor plate design, which is ideal for large tenants, its central location, and its high parking count were each defining factors in their searches. Fountainhead Park is located within a ten-minute drive of The Shops at La Cantera, and The Rim, which provide tenants expanded retail and restaurant amenities. Situated at the intersection of Horizon Hill and Medical Dr., tenants can easily access I-10 and loop 410.