SAN ANTONIO, June 27, 2018 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announces the sale of Fredericksburg Place, a 224- unit apartment complex in northwest San Antonio, Texas.
“The market for multifamily value-add assets in San Antonio is one of the best in Texas today,” says Will Balthrope, IPA executive director. Balthrope and IPA associate Drew Garza represented the seller, The ValCap Group LLC, and procured the buyer, JBT Investments LLC.
Built in 1983, Fredericksburg Place is located on 10 acres next to the Interstate 10/Loop 410 interchange, within minutes of San Antonio’s largest employment centers, including USAA World Headquarters, South Texas Medical Center, Valero World Headquarters, Harland Clarke, the University of Texas at San Antonio, and downtown.
“Several bus stops near the property offer easy commuting options, making Fredericksburg Place an ideal location for residents,” adds Garza.