SR Aviation Infrastructure Continues Growth with Acquisition of San Antonio International Airport Private Hangar Complex
SR Aviation Infrastructure ("SRAI"), a subsidiary of New York and Nashville-based real estate investment firm, SomeraRoad, announces the acquisition of a world-class business aviation complex at the San Antonio International Airport ("SAT"). The acquisition represents the second transaction for SRAI. Developed in 2020 on 8.9 acres, the 125,000 SF, Class A property is 100% leased across its seven hangars. The hangars range in size from 12,000 to 15,000 SF. SRAI will take over operations at the SAT property immediately upon closing.
"The acquisition of the premier San Antonio International Airport hangar complex is a proud moment for our team and the growing SR Aviation Infrastructure platform," said Jonathon Reeser, President of SR Aviation Infrastructure. "The hangars are the most recently developed and highest quality at the SAT airport and support the SRAI thesis of acquiring top tier aviation infrastructure assets in strategic U.S. markets. San Antonio International Airport and the surrounding market present a highly attractive opportunity for our investment platform and its expansion. We're eager to pursue our continued growth."
SAT is the primary commercial and private airport in the San Antonio market and was ranked one of the fastest growing passenger markets in the country. The project is in excellent condition and features 28-foot hangar door heights and direct access to the runway, optimizing accessibility for heavy jets. The City of San Antonio is currently investing $1.4B to upgrade the runways and commercial terminal at the airport. This investment represents the City's commitment to growth and improved transportation infrastructure and significantly benefits the project in both the short- and long-term.
"The SAT hangar complex opportunity stood out to our team as an opportunity characterized by strong tenants who have long-term, mission-critical needs for being at the newest, most up-to-date facilities on the field," said Monte Koch, Senior Advisor of SR Aviation Infrastructure. "We expect that SAT will be a highly accretive addition to SRAI, and we look forward to taking over operations and continuing the strong momentum."
SR Aviation Infrastructure, a subsidiary of SomeraRoad, is an investment platform focused on the acquisition, development, and leasing of aviation-related real estate, including airplane hangar space for based aircraft, FBOs, MROs, flight schools, charter, and management companies across the United States. The platform addresses the existing supply and demand imbalance in the aviation-related real estate sector. The skilled SRAI team intends to grow the platform to an institutional scale with a robust and diversified portfolio of high-quality aviation-related assets.
