January 3, 2017
Chicago investor Draper and Kramer Inc. ended its year by snagging the 324-unit View at Encino Commons in San Antonio’s Stone Oak area. The apartment complex was purchased from McCann Realty Partners. The buy is Draper and Kramer’s second in San Antonio. At the beginning of 2016, the firm acquired the 342-unit Sonterra Blue for more than $37 million.
The sales price for Encino Commons, at 21303 Encino Commons Blvd. in far north central San Antonio, was not disclosed. The Bezar County Appraisal District assessed the 15-year-old property at just under $35 million.
The new owner acquired the asset as a value-add opportunity, and plans unit interior upgrades, as well as minor changes to the clubhouse, fitness room and business center.
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