January 12, 2017
Innovative Multi-Family Investments LLC, headquartered in San Antonio, TX, has acquired two apartment properties, totaling 283 units, for $11 million from Anca Property Investments LLC in Boerne, TX. Cody Courtney of Berkadia San Antonio brokered the transaction.
The portfolio consists of the 153-unit Crestwood Apartments at 5909 Royalgate Dr., and the 130-unit Whitewood Oaks Apartments at 200 Whitewood St. Both properties were built in the 1960s, and have swimming pools, clubhouses and picnic areas.
Crestwood Apartments has one and two-bedroom units ranging from 578 to 996 square feet. Rents are between $555 and $745 a month. Whitewood Oaks offers efficiency apartments, as well as one and two-bedroom units. Sizes range from 490 to 875 square feet, with monthly rents between $499 and $749.
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