KBS Sells San Antonio's Noteworthy Fountainhead Tower to SynerMark
Deal News | Jan 10, 2025 | KBS Realty Advisors Inc
KBS Realty Advisors Inc., a leading commercial real estate firm, has completed the sale of the Fountainhead Tower, a 179,932-square-foot Class A office building situated in the Northwest submarket of San Antonio, Texas. The property was acquired by SynerMark Properties Inc., a real estate investment and services business based in Austin, Texas. The sale underscores the strong demand for Class A office assets in San Antonio, driven by a robust local economy and significant population growth. Senior executives from both companies highlighted the strategic significance of the transaction, with KBS noting the tower's high occupancy and desirable tenant mix. Additionally, the property underwent major renovations in 2017, enhancing its offerings with various on-site amenities. Legal representation in the transaction was provided by Greenberg Traurig, LLP, while Cushman & Wakefield handled the sale process. The deal marks the beginning of more planned acquisitions by SynerMark in the lucrative San Antonio market.
Sectors
- Commercial Real Estate
- Investment
Geography
- United States – The article is deeply rooted in the US market, discussing a real estate transaction within a prominent American city.
- Texas – Both the buyer and seller operate within Texas, highlighting the state's active real estate market and its significance in the transaction.
Industry
- Commercial Real Estate – The transaction between KBS and SynerMark centers on the acquisition and management of office properties, which are key components of the commercial real estate sector.
- Investment – The acquisition by SynerMark aligns with strategic investment decisions in high-value real estate assets, indicative of broad trends in investment strategies focused on office spaces.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| KBS Realty Advisors Inc. | Seller | Company | A major commercial real estate firm specializing in premier property ownership and management. |
| SynerMark Properties Inc. | Buyer | Company | An Austin-based real estate investment and services firm managing acquisition strategies. |
| Fountainhead Tower | Target | Company | A 179,932 square-foot Class A office property in San Antonio, Texas. |
| Cushman & Wakefield | Commercial Real Estate Advisor | Company | A global real estate services firm advising on the sale of Fountainhead Tower. |
| Greenberg Traurig, LLP | Legal Advisor | Company | A prominent law firm providing legal counsel for KBS in the disposition of Fountainhead Tower. |