S.A. luring foreign investors

But some foreigners are thinking bigger, and they're shopping for commercial real estate.

San Antonio's stable economy and its friendly culture have made the city a budding place for foreigners — from Mexico and beyond — to look at buying property here.

“San Antonio is probably the most Mexican-friendly city in the country,” said Carlos Fis, who has been investing in San Antonio since 1997 through his group, Sun Belt Investment Partners. “And I think San Antonio has proven to be a very stable, consistent market.”

They aren't focusing on any one type of real estate, either. Fis, who now lives in San Antonio but is from Mexico City, said his partnership has invested in everything from raw land to medical office buildings. It developed townhomes at the Club at Sonterra, built office buildings called Las Plazas in Stone Oak, and is building a CVS pharmacy on a piece of raw land.

“We have such a great relationship with Mexico, so I think that's paying off,” said local developer Marty Wender, who has worked with foreign investors, including Fis. “They feel comfortable here.”

While it's difficult to track numbers in terms of foreign investment, it's a growing amount, local experts say.

“I definitely think they do have an effect on the local market,” said Deborah Bauer, president of Drake Commercial Group. “I must say a large portion of my clientele is from Mexico. I think it's stronger than anyone can really get numbers on.”

Many foreign investors aren't new to real estate ownership, and have parked their money in property in other countries as well. But San Antonio is seen as a safe bet for diversification.

San Antonio's real estate market, though it has slowed, still is fairly stable. And a decline in property values has begun providing some good deals for investors.