Thursday, August 28, 2014

IPA Sells 328 Multifamily Units in San Antonio, TX

Will Balthrope
SAN ANTONIO, TX – Institutional Property Advisors (IPA), a division of Marcus & Millichap serving the needs of institutional and major private real estate investors, has arranged the sale of 328 multifamily units in San Antonio. The property’s name and transaction details were not disclosed.

            IPA executive director Will Balthrope represented both parties in the transaction.

            “The property is a first generation value-add opportunity,” says Balthrope. “It has been well maintained since its build in the mid-2000s. The implementation of a luxury enhancement package should allow management to push rents to the level of the neighboring peer assets.”

            Located in San Antonio, the property is close to the some of the city’s strongest employment centers. Units feature Whirlpool appliances, European cabinetry with decorative hardware, nine-foot vaulted ceilings and garden-style oval tubs. 

Community amenities include a resort-style pool with fountains, a 24-hour state-of-the-art fitness center, a complimentary tanning studio and an executive business center.

 For a complete copy of the company’s news release, please contact:

 Gina Relva
Public Relations Manager
(925) 953-1716

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