GenCap Group has secured a $46.5 million refinancing loan for Park at Westover Hills, an apartment complex in San Antonio’s Far West submarket. The floating-rate, interest-only bridge loan was provided by Walker & Dunlop Investment Partners, with Stuart Wernick, Drew Garrison, Geoff Smith and Mike Dunsheath handling the deal.
Park at Westover Hills consists of 372 units built last year on a 16-acre site at 4103 Rogers Road. The loan amount averages to $125,000 per unit. The complex offers one-, two-, and three-bedroom apartments with private yards and amenities such as a golf simulator, coffee bar, pool and dog parks.
The project presented significant construction challenges due to its rocky terrain. “It’s one big rock hill,” GenCap’s Mark Johnson said at the time. “There’s about six inches of dirt and the rest of it is rock. There’s a lot of dirt work required to get this project going.”
Despite these obstacles, GenCap pursued development because of the location’s growth potential. The property sits near SeaWorld and Alamo Ranch, which is San Antonio’s largest master-planned community. Development in Alamo Ranch began around 2005 after developers Walt Busby and Brad Galo purchased land from the Cordi Marian Sisters.
Between 2018 and 2025, Alamo Ranch saw its population rise from 53,000 to 82,000 residents—a more than 50 percent increase—according to Texas Demographics data.
Rapid growth in this area helps insulate projects like Park at Westover Hills from challenges affecting San Antonio’s wider multifamily market, which has seen an oversupply lead to rent declines. A Cushman & Wakefield report found that average monthly rents in San Antonio fell by 2.5 percent year-over-year in the third quarter of 2025 to $1,240.
