• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Home
    • Heron jobs
    • Editorial Independence Policy
    • Corrections & Clarifications
  • Who we are
  • About us
  • Newsletter signup
  • Donate
  • Our Business Supporters
    • Join Our Business Membership Program

San Antonio Heron

Telling the complete downtown story

  • Development
  • Housing
  • Neighborhoods
  • Food & Drink

Austin real estate firm purchases historic office building on downtown River Walk

November 23, 2020 By Richard Webner 57 Comments

FacebookTweetPrintEmail
This three-story office building on the River Walk sits at 454 Soledad St.
This three-story office building on Soledad Street is owned by an Austin firm. Photo by Ben Olivo | Heron BEN OLIVO | HERON

An Austin real estate firm has purchased a three-story historic office building on the River Walk in a fast-growing part of west downtown.

The firm, Real International, bought the building at 454 Soledad St. from former Mayor Henry Cisneros on Oct. 14, county deed records show. Its founder, Lynn Yuan, sees a lot of potential in downtown, particularly in that area, she said in an email.

She pointed out that the building is in between the famous “horseshoe” section of the River Walk and the Pearl, and that it is in a federal Opportunity Zone, which makes developers eligible for breaks on capital gains taxes. The 32-story apartment tower that Weston Urban plans to build is only a short walk away, she said.

“We plan to hold onto it and also make improvements,” she said.

She declined to say how much the property sold for. The Bexar Appraisal District assessed it at $3.7 million this year.

The office building has 21,920 square feet and was built in 1926, according to the appraisal district.

Cisneros has worked from the building since he bought it in 2016. Several businesses linked with him are located there, including Mission DG, Cisneros and Victoria Miramontes’ development firm that has partnered with the San Antonio Housing Authority to build the Tampico Apartments on the West Side. It’s also home to the San Antonio offices of American Triple-I Partners, an infrastructure fund manager of which Cisneros is chairman.

Cisneros and Miramontes are moving their offices to a building the former mayor is rehabilitating on the West Side, 2201 Buena Vista Street, he said.

“It came time to reorganize my own financial situation and also to commit to a property on the West Side,” he said.

Most of Real International’s investors are Asian or Asian-American, Yuan said, with about 20% coming from other countries. The firm has been investing in the San Antonio market for about two years—its website lists several single-family and multifamily properties outside the urban core—and it plans to do so more in the future, she said.

[ View more downtown transactions. ]

Richard Webner is a freelance journalist covering Austin and San Antonio, and a former San Antonio Express-News business reporter. Follow him at @RWebner on Twitter


2022 NewsMatch

Help the Heron UNLOCK $15,000 from a coalition of NewsMatch funders by Dec. 31.

Prefer to mail a check? Please make payable to:
San Antonio Heron
The Rand Building
110 E. Houston St. 7FL
San Antonio, Texas, 78205

FacebookTweetPrintEmail

Filed Under: Office, River Walk, Soledad Street, Tech District, Transactions, West Downtown Tagged With: Convent Street, Henry Cisneros, Lynn Yuan, Mission DG, Opportunity Zone, Real International, River Walk, San Antonio Housing Authority, Soledad Street, Victoria Miramontes, Weston Urban

Reader Interactions

Trackbacks

  1. Developers of $400M Riverplace project sign incentive agreement with city - SAHeron says:
    July 25, 2021 at 7:32 pm

    […] Related: Austin real estate firm purchases historic office building on downtown River Walk […]

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Primary Sidebar

Share

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

Support local journalism

If you care about San Antonio’s downtown and urban neighborhoods, consider supporting our 100% independent work with a donation.
Donate

Newsletter Signup

Deep Dives

How municipal bonds work, and a brief history of them in San Antonio

Olivo: How McKee-Rodriguez’s support for a luxury housing project helps shape the Decade of Downtown

The Lofts at River North are under construction at Broadway and Jones Avenue in July.

Analysis: It’s time to call BS on ‘workforce housing’

Copyright © 2023 San Antonio Heron · Site maintained by hmt3design.com

Share this ArticleLike this article? Email it to a friend!

Email sent!