Avia Equities Expands Into San Antonio With Acquisition of Blair at Bitters

Avia Equities has acquired Blair at Bitters, a 190‑unit garden‑style multifamily community in San Antonio, Texas. The purchase expands Avia’s footprint in Central Texas and aligns with the firm’s stated focus on well located, attainable housing in high growth markets.

The business plan for Blair at Bitters centers on targeted interior and exterior renovations, plus upgrades to common areas and amenities. Avia intends these improvements to enhance the resident experience while participating in the continued improvement of the San Antonio real estate market.

San Antonio’s market fundamentals undergird the acquisition thesis. The metro continues to record steady population growth and a diversified employment base across healthcare, defense, finance, cybersecurity, and hospitality. In recent years the region has added tens of thousands of new residents and maintained an unemployment rate below both the Texas and U.S. averages, reflecting resilient labor market conditions and sustained in migration.

"We are excited to add Blair at Bitters to the Avia portfolio and to establish our presence in the San Antonio market, said Mike Mortazavi, Founder of Avia Equities. This community offers strong fundamentals, an excellent infill location, and a clear value add path through thoughtful renovations and hands on management. We view this acquisition as the first of many investments in San Antonio and look forward to being a long term partner in the city s growth."

Blair at Bitters offers a mix of one and two bedroom floor plans, onsite parking, and community amenities consistent with other suburban multifamily properties in the market. The acquisition was financed using Freddie Mac leverage.

For operators and investors, this transaction underscores ongoing investor interest in Sun Belt and Texas markets where population and job growth support demand for attainable housing. The combination of a defined value‑add program and agency financing is a common execution approach for firms seeking to enhance cash flow and asset quality through hands on management.

We will continue to follow Avia Equities’ activity in Central Texas and report on how renovation and management strategies at properties like Blair at Bitters influence resident outcomes and market performance.