Cortland Unloads San Antonio View at TPC for $120M
The 416-unit View at TPC luxury asset is two miles down the road from TPC San Antonio Golf Club. Cortland has sold the project, formerly known as Cortland View at TPC, for $70.8 million. Watermarke Properties was the buyer.
Completed in 2014, the 13-building property has one- to four-bedroom floorplans ranging from 652 to 1,850 square feet. Common-area amenities include a fitness center, pool, lounge and clubhouse. More than 620 grade-level parking spaces are also available.
While the San Antonio apartment market has softened of late for most products, investors seem to continue to favor luxury properties: Yardi Matrix reports some 8,300 units changed hands in the metro year-to-date through August, 4,780 of which pertain to upscale communities.
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