SAN ANTONIO – 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 Parc 410, a 344-unit apartment community in San Antonio, Texas.
“Parc 410 is a well-established multifamily asset that offers long-term stability and strong future rent growth,” says Will Balthrope, IPA executive director. “New ownership can further enhance the property’s value through the completion of the unit enhancement program, which received capital input of $2 million from the previous owner.”
Balthrope, and Jordan Featherston, IPA associate, represented the seller and procured the buyer. Built in 1980, Parc 410 is located on 10 acres with highway frontage on Loop 410, one of San Antonio’s most heavily traveled thoroughfares. The city’s strongest employment centers, including USAA’s world headquarters, Valero’s corporate headquarters, the South Texas Medical Center, Harland Clarke and the University of Texas at San Antonio, are nearby. The Westover Hills master-planned mixed-use development and Ingram Park Mall are also close by.
The property’s community amenities include two swimming pools, an on-site laundry facility and a business center.