Luxury Multifamily Community Trades Hands in San Antonio
SAN ANTONIO, March 31, 2017 – Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, is pleased to announce the sale of Alcove at Alamo Heights, a 107-unit boutique apartment community in San Antonio, Texas.
“Located near two of the most affluent neighborhoods in San Antonio, Alamo Heights and Terrell Hills, the property is well positioned to provide the new owner with long-term stability and value appreciation,” says Will Balthrope, IPA executive director.
Balthrope, Drew Kile, IPA senior director, and Jordan Featherston, IPA associate, represented the seller, Stillwater Capital, and procured the buyer.
The property is located at 6419 North Vandiver Road between three of San Antonio’s major thoroughfares, Loop 410, Highway 281, and Interstate 35. The Alamo Quarry Market, a 580,000-square-foot open-air shopping center, is three miles west of the property, North Star Mall, a 1.26-million-square-foot regional center is five miles away and San Antonio’s largest employment center, the central business district, is within six miles.
The average unit size at Alcove at Alamo Heights is 923 square feet. Apartments feature island kitchens and private breezeway garages. Community amenities include a resort-style swimming pool with cabana and poolside barbecue grills.