Wednesday, October 9, 2013

IPA Arranges Sale of 344 Units in Northwest San Antonio, TX

  
Coppermill Apartments, northwest San Antonio, TX


Will Balthrope
SAN ANTONIO, Oct. 8, 2013 – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of Coppermill Apartments, a 344-unit apartment complex on San Antonio’s northwest side. The terms of the sale were not released.

Will Balthrope, an IPA executive director, Scott Lamontagne, an IPA director and Marcus & Millichap senior associate Moses Siller advised the seller, a large private entity based in the northeastern United States. The buyer is a Las Vegas-based acquisition firm.

            “The northwest side of San Antonio is one of the most dynamic growth areas in the city,” says Balthrope. “The acquisition of Coppermill Apartments provides the new owner with a great opportunity to benefit from this booming area.”

“This is an established multifamily asset with existing cash flow and an opportunity to capture significant rent increases through a well-executed unit enhancement program,” adds Lamontagne.

Scott Lamontagne
Built in 1980 on 10 acres at 5827 Northwest Loop 140 in San Antonio, the property is within minutes of several of San Antonio’s strongest employment centers including USAA’s world headquarters, the South Texas Medical Center, Valero Marketing and Supply Co.’s world headquarters, Harland Clarke Corp. and The University of Texas at San Antonio.

The 235,320-rentable square-foot Coppermill Apartments provides residents with a choice of four unique floor plans. Apartments feature fully equipped electric kitchens, a private balcony or patio and spacious closets. 

Community amenities include two swimming pools, picnic and barbecue areas and tennis and basketball courts.





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

Gina Relva
Public Relations Manager
(925) 953-1716

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