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| 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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