TIC investors snap up Westlakes Villas

Triple Net Properties LLC represented tenant-in-common investors in the purchase of Westlakes Villas Apartments in San Antonio, Texas.

The value of the transaction was not disclosed.

Westlakes Villas Apartments is a 325-unit multifamily community built in 1985 that consists of one- and two-bedroom units housed in 26 two- and three-story buildings.

Westlake Villas, which was 94 percent occupied at the time of sale, features outdoor grills, a fitness center, two outdoor swimming pools, and tennis and volleyball courts.

BES Westlakes Fund II LLC and BES Westlakes Fund III, both Delaware limited liability companies, sold the complex.

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