Marcus & Millichap arranged the sale of the newly constructed Bandera Commons Apartments in San Antonio, Texas.
The value of the transaction was $15.2 million.
Bandera Commons is a 240-unit, class A apartment complex located at 8120 Mainland Drive. The property was completed in 2003 and includes 190,200 rentable square feet on approximately 11 acres. The unit mix is comprised of 176 one-bedroom and 64 two-bedroom apartments, ranging in size from 726 to 976 square feet. Community amenities include an outdoor swimming pool and spa with fountains, volleyball and secured parking and entrances.
Occupancy was 93 percent at the time of sale.
A private investor from Canada acquired the asset from an undisclosed seller.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.
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