Sale of NOVA Apartments highlights San Antonio's thriving multi-housing market
JLL Capital Markets facilitates sale of multi-family community with value-add potential
AUSTIN, Feb. 28, 2025 – JLL Capital Markets announced today that it has arranged the sale of NOVA Apartments, a 412-unit multi-family community in Northwest San Antonio, Texas.
JLL represented the seller, Metlife Investment Management.
NOVA Apartments, situated at 14200 Vance Jackson Rd., offers residents quick access to major highways I-10 and Loop 1604, seamlessly connecting them to the greater area. The community is conveniently adjacent to The RIM and La Cantera districts, placing a variety of dining, shopping and entertainment options just moments away.
San Antonio is rapidly growing, with the highest net new residents among major metros from 2022 to 2023 and maintains a thriving multi-housing market. As a hub for green spaces and education, it features over 101 miles of trails and the University of Texas at San Antonio. The city's robust economy, bolstered by a large cybersecurity sector and major manufacturing investments, drives significant job growth, making it a prime location for renters despite rising mortgage costs.
NOVA Apartments, built in 2009 and sprawling across 31 acres, boasts a total rentable space of 352,912 square feet. Renowned for its timeless construction quality, the community competes strongly with class-A properties through its blend of renovated and classic units. Residents can enjoy an array of amenities such as resort-style pools, dog parks, an EV charger, a jogging trail and a state-of-the-art fitness center, enhancing the appeal of NOVA as a leading residential choice.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Directors Robert Arzola and Ryan McBride and Senior Managing Director Robert Wooten.
"The successful sale of NOVA Apartments underscores the strong demand in San Antonio's vibrant multi-housing market," said Arzola. "Its strategic location and quality amenities made it an attractive investment choice."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Metlife Investment Management
MetLife Investment Management serves institutional investors around the world by combing a client-centric approach with deep and long-established asset class expertise in managing Fixed Income, Private Credit and Real Estate. They are the institutional asset management business of MetLife, Inc., one of the world’s leading financial services companies. MetLife Investment Management leverages the broader resources of MetLife and its 155-year heritage of strength, stability and disciplined risk management to skillfully navigate today's markets. Their aim is to deliver strong, risk-adjusted returns by building sustainable, tailored portfolio solutions. At the heart of their investment process is approachable expertise – a commitment to being accessible, accountable and collaborative in helping clients realize their long-term return objectives.