IPA Arranges Two-Property Multifamily Portfolio Sale in San Antonio, TX

Park at Ventana Apartments is located at 3903 Barrington Drive, San Antonio, TX

SAN ANTONIO, TX – 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 a 563-unit two-property portfolio in San Antonio, Texas.

Will Balthrope

 The assets are the 319-unit Park at Ventana and Villa at Ventana, which features 244 units. The terms of the sale were not disclosed.

            IPA executive director Will Balthrope and IPA director Scott Lamontagne advised the seller, a New York-based private lender. The buyer is a privately owned company based in Beverly Hills, Calif.

“The portfolio is located in the northeast San Antonio apartment submarket, which ranks high in strong occupancy, rent growth and absorption,” says Balthrope. “Infill properties such as these are expected to see rent growth due to strong demand and limited supply at this close-in location.”

Scott Lamontagne

“The submarket’s job centers, retailers, schools and highways are excellent amenities for the properties’ tenants and will ensure a continual supply of future residents,” adds Lamontagne. “The assets present a perfect opportunity to add value and the buyer has a significant renovation budget.”

Park at Ventana is located at 3903 Barrington Drive with easy access to Loop 410, Interstate 35, Randolph Air Force Base and Fort Sam Houston. The apartment complex features one-, two- and three-bedroom apartment homes featuring dishwashers, garbage disposals, patios or balconies and walk-in closets.

 Select units offer washer and dryer connections and fireplaces. Shared amenities include covered parking, a private theater with surround sound, a swimming pool, a game room, sand volleyball court, business center, fitness center and picnic tables and grills.

Villas at Ventana Apartments
 San Antonio, TX

Villas at Ventana’s location is 2167 Loop 410 NE. The property provides residents with two 24-hour laundry facilities, covered parking, a swimming pool with cabana, a playground and storage facilities.

 Units feature nine-foot ceilings, built-in shelving, breakfast bars, walk-in closets, dishwashers, frost-free refrigerators, garbage disposals and central air conditioning and heating.

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

Gina Relva

Public Relations Manager

(925) 953-1716