San Antonio retail center acquisition financed

AUSTIN, Aug. 31, 2021 – JLL Capital Markets announced today that it arranged an acquisition loan for Shops at Potranco, a fully leased, 18,344-square-foot retail center in a growing area on the west side of San Antonio, Texas.

JLL worked on behalf of the borrower, Kiva-Door, LLC, the retail division of Austin-based Door Capital Partners, to place the seven-year, fixed-rate loan with The Bank of Austin. CSW Development, who developed the property in 2019, sold it to Door Capital Partners in a JLL-brokered transaction.

Shops at Potranco is home to a diverse mix of national and multi-unit tenants, including Orangetheory Fitness, Jersey Mike’s, Buffalo Wild Wings, SuperCuts, Taqueria Arandas, Pacific Dental and LV Nails. The center features a large pylon sign which, along with its elevated site, provides tremendous visibility to the more than 31,530 vehicles that pass by daily.

The center is situated on 2.34 acres at 10538 Potranco Rd. adjacent to an H-E-B Plus!-anchored retail center that helps drive traffic to the property. The area houses some of the top area employers that contribute to a daytime population, including more than 50,000 employees. Additionally, Shops at Potranco is in a dense but growing area with 27,740 new residences under construction. These new master-planned communities could add up to 80,000 new residents to the existing demographics, which include approximately 126,814 residents within a three-mile radius.

The JLL Capital Markets team representing the borrower was led Senior Director CW Sheehan and Analyst Matt Ctvrtlik. The JLL Retail Brokerage team representing CSW Development included Executive Vice President Tim Allen.

Door Capital Partners is a private equity firm that invests in hospitality and retail assets through Texas. Through a strategic international joint venture with KIVA, Door Capital Partners is expanding its retail portfolio in central Texas. KIVA is one of the largest developers of retail centers in Mexico.

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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