Pointe at Ramsgate, San Antonio

April 17, 2019 Comments Off on Westmount Acquires Pointe at Ramsgate in Value-Add Play Views: 615 San Antonio, Texas News

Westmount Acquires Pointe at Ramsgate in Value-Add Play

Dallas-headquartered Westmount Realty Capital struck a deal with a local seller to acquire The Pointe at Ramsgate, a 300-unit, Class B apartment complex in San Antonio’s northwest market. The new owner is planning value-add improvements to the 9.5-acre property, which will include enhanced operations, continued unit interior renovations and an upgrade of the property amenities. The property has already been rebranded as Joule Apartment Homes.

The property at 10707 Interstate 10 W. delivered in 1975. “The Pointe at Ramsgate provided Westmount with a unique investment opportunity to acquire an asset well below the replacement cost, in an excellent location,” said Westmont’s Michael Anderson.

The asset offers one and two-bedroom units averaging 682 square feet. Amenities include two swimming pools, a covered outdoor grill area, controlled-access gates, a 24-hour fitness center, resident clubhouse with a full kitchen, laundry facility and a dog park.

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