SAN ANTONIO – Florida-based multifamily developer Advenir LLC has acquired an office property at 2455 NE Loop 410.
Advenir has purchased the three-story Greenway Park building, which is currently housing several medical tenants. Terms weren’t disclosed, though the firm received a $30 million mortgage from Bank of America as part of the deal.
As demand for office space declines, many developers are turning the space into multifamily residential. This remains a possibility for the Greenway Park space.
The building’s most recent assessed value is $12.25 million, according to the Bexar County Appraisal District.
The site currently caries a C-3 zoning designation, which allows a number of commercial uses.