DALLAS, Jan. 16, 2019 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of a four-property Class A multifamily portfolio in Central Texas.
“Built between 2014 and 2017, these fully stabilized assets are in submarkets with high median household incomes and strong population and job growth,” said Will Balthrope, IPA executive director. Balthrope, Drew Kile, IPA senior director, and Jordan Featherston and Drew Garza, IPA associates, represented the seller, Vantage Communities, and procured the buyers.
“The properties offer residents spacious living environments and resort-style amenities,’ added Featherston.
The properties and their purchasers are:
Vantage at Brooks City Base, 288 units built in 2016 in San Antonio, bought by B&M Management
Vantage at Judson, 288 units built in 2014 in San Antonio, purchased by Harvest Equities
Vantage at New Braunfels, 288 units built in 2016 in New Braunfels, purchased by Hayden Properties
Vantage at Corpus Christi, 288 units built in 2017 in Corpus Christi, bought by Thrive FP
“These are well-built multifamily assets that provide residents with easy access to employment, retail and entertainment venues in prime, Central Texas suburban locations,” concluded Garza.