search

The Real Deal Logo

Trending

Brandon Miller’s widow lists debt-ridden Hamptons estate for $15MBrandon Miller’s widow lists debt-ridden Hamptons estate for $15MFormer Macy’s CEO trades Park Slope townhouse, tops Brooklyn luxury Former Macy’s CEO trades Park Slope townhouse, tops Brooklyn luxury Sunset Park megaproject faces foreclosure Sunset Park megaproject faces foreclosure Alexander brothers left as sole owners of Official after failed exit negotiationsAlexander brothers left as sole owners of Official after failed exit negotiations
Commercial
San Antonio

UTSA’s latest real estate play is purchase of downtown office building 

Enrollment is expanding, and it’s looking to contribute to city’s growth

UTSA to Acquire One Riverwalk Place, Transforming Downtown into a Vibrant Campus
UTSA’s Taylor Eighmy, Patrinely Group’s Robert Fields and Affinius Captial’s Len O'Donnell with 700 North Saint Marys Street (Loopnet, Affinius Captial, UTSA, LinkedIn)

The University of Texas at San Antonio is becoming a real estate clutch hitter with plans to buy a downtown office building.

The university signed a letter of intent to purchase One Riverwalk Place, an 18-story office building at 700 North Saint Marys Street, the San Antonio Business Journal reported.  

The University of Texas System Board of Regents is set to review the proposed acquisition this month.

“The opportunity to acquire One Riverwalk Place is so strategic for us,” UTSA President Taylor Eighmy said. “It’s adjacent to our Southwest Campus, affords programmatic and placemaking opportunities and is an incredible building and facility for our keen interests in academic innovation and the arts.” 

Constructed in 1981 and previously occupied by USAA, the building is jointly owned by Affinius Capital, formerly USAA Real Estate, and Houston-based Patrinely Group. 

UTSA plans to repurpose the nearly 265,000-square-foot property to house academic departments and support staff, with the possibility of incorporating retail spaces on the ground floor. The university plans to move departments into the building next summer.

Sign Up for the undefined Newsletter

The acquisition is a way to boost downtown San Antonio’s growth, particularly within the tech corridor, and to support UTSA’s ongoing investment in the area, said Veronica Salazar, UTSA executive vice president for business affairs and chief financial officer. 

The acquisition aligns with UTSA’s recent developments in the area, including the construction of the School of Data Science and the National Security Collaboration Center, as well as the upcoming $130 million Innovation, Entrepreneurship, and Careers building, San Pedro II.

The university is also looking for a developer to spearhead a development on 28 acres it owns near its Park West Campus. UTSA is looking for apartments, retail and “amenities and activity for the benefit of the community and UTSA,” its request for proposals said.

Enrollment at UTSA is growing. Its freshman class set a record for enrollment last fall, with 3 percent growth from 2022, totaling nearly 35,000 undergraduate and graduate students.

— Andrew Terrell

Read more

Commercial
San Antonio
UTSA sets stage for continued downtown expansion with land buy 
Inside Workout Strategy for Affinius’ Troubled Offices Loan
Construction
South Florida
Financially troubled Columbus Center in Coral Gables facing deed in lieu of foreclosure 
From left: Innovo Property Group CEO Andrew Chung and Affinius Capital CEO Len O’Donnell in front of 2505 Bruckner Boulevard in the Bronx (Getty, Innovo Property Group, Affinius Capital, 2505 Bruckner)
Commercial
New York
Innovo, Affinius land $334M at Bronx industrial complex
Companies and People
Affinius CapitalPatrinely Group
Recommended For You