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Reap Capital

Exclusive Investment Opportunity

The Sage

San Antonio Multifamily

A Market Entering Its Next Growth Cycle

15,08312 months

Units Absorbed

+2.0%YOY

Occupancy Growth

70%2025 YOY

Supply Reduction

Q3 2025 Investment Brief

Why San Antonio?

A Market Entering Its Next Growth Cycle

San Antonio multifamily fundamentals are showing historic demand strength alongside a sharply contracting supply pipeline. This rare combination positions investors for strong rent growth and stable cash flows in the years ahead.

18

2025 Permits Issued

84%

Above U.S. Job Growth

3.9%

Unemployment

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Key Market Highlights

San Antonio multifamily fundamentals are showing historic demand strength alongside a sharply contracting supply pipeline.

Record-Breaking Demand

Units Absorbed (12 months)15,083
Total Inventory6.25%
vs. Long-term Average3x

Source: RealPage, YardiMatrix

Occupancy Rising

YOY Growth+2.0%
Consecutive Months12
Projected Year-end89.2%

Source: ALN Data, LinkedIn

Supply Pipeline Collapsing

Deliveries Fall YOY68-70%
Under Construction-70%
Starts Since Peak-76%

Source: CBRE, Newmark, MMG, CRE Daily

Economic Tailwinds

Job Growth YOY2.4%
Net Jobs Added23,800
Cost-to-Buy Premium35%

Source: CBRE, YardiMatrix

Strategic Focus: Risk-Adjusted Returns

2/3 of absorption concentrated in North & Northwest San Antonio, where occupancy exceeds 95%.

Targeting these outperforming submarkets avoids oversupply risks seen downtown.

Source: MMG Real Estate Advisors

Investor Takeaway

San Antonio is positioned for outsized multifamily returns:

Exceptional demand resilience amid historic supply levels

Tightening pipeline that will constrain future deliveries

Sustained job & population growth fueling long-term renter demand

Source: RealPage Analytics, YardiMatrix, CBRE, Newmark

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San Antonio Multifamily Property

Proven Returns

Join investors capturing San Antonio's growth

Exclusive Investment Opportunity

Schedule Your Consultation

Book a time to discuss The Sage investment opportunity with our team. Learn about investment terms, market analysis, and answer any questions you may have.

What to Expect:

  • • Detailed walkthrough of The Sage investment opportunity
  • • Market analysis and growth projections for San Antonio
  • • Investment terms, timeline, and projected returns
  • • Opportunity to ask questions and discuss your investment goals

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