June 12, 2018
Westmount Realty Capital LLC has expanded its footprint in San Antonio with the acquisition of Three Fountains, a 272-unit apartment community. The Dallas-based company will refurbish and rebrand the garden-style property as Westmount at Three Fountains.
Located at 7935 Pipers Creek St., the 19-building community was built in 1998. It features a mix of 120 one‐bedroom units, 120 two‐bedroom units, and 32 three‐bedroom units.
“Three Fountains presented Westmount with the opportunity to acquire a well-positioned value-add property near the highly desirable neighborhood near Westover Hills in San Antonio,” said Westmount’s Michael Anderson, adding that the company believes the market for rent premiums for Three Fountains is “favorable.”
Westmount currently has 3,300 multifamily units throughout Texas, and is seeking value-add opportunities throughout the Southwest. “With the acquisition of Three Fountains, Westmount has further strengthened its presence in San Antonio, one of the fastest-growing cities in the U.S.,” said Clifford Booth, president and CEO of Westmount.
Located near the Westover Hills neighborhood of San Antonio, by Highway 151 and Loop 410, Three Fountains is less than 10 miles from downtown San Antonio and five miles from the medical district. Westover Hills is one of the largest employment centers in the San Antonio metro area, and provides quick access to retail and entertainment.
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