September 30, 2016
Private owner-operator Electra America and partner Robbins Property Associates acquired the 288-unit Vantage at Alamo Ranch in San Antonio, TX. Vantage Communities sold the recently-delivered property, which will be rebranded Verandas at Alamo.
The sales price was undisclosed, with the Bexar Central Appraisal District assessing the asset at $22.5 million. The property is situated on 14 acres at 6831 Alamo Pkwy., and is 87% occupied.
Electra America plans to upgrade amenities and services on the apartment complex, which delivered last year. The deal is the buyer’s 29th in the past 12 months, and it now owns more than 7,000 apartment units throughout Texas.
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