Atlanta-based Dreamstone Investments bought a 340-unit multifamily project, just two miles away from the South Texas Medical Center, one of the largest employers in the region. Will Balthrope and Drew Garza with Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller.

Garza thinks the buyers are getting a good deal. “With the city’s largest service employment market and strong demographics, Northwest San Antonio is a strong focal point for multifamily investors.”

The asset, Timberhill Commons, is on 21.5 acres and has a full slate of amenities. The three-story garden-style community has a business center, large pool, 24-hour fitness facility and concierge service.

Besides the South Texas Medical Center, the apartment complex is near employers such as Philips Semiconductor, QVC, Microsoft Data Center and Sea World. The project was completed in 2020.