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Harvest Equities Acquires 680-Unit SA Apartments
Harvest Equities has acquired The Place at Castle Hills, a 680-unit multifamily property in San Antonio. MC Cos. sold the asset.
According to Yardi Matrix information, the community last traded in July 2011, when MC Cos. acquired it from Ilan Investments. The firm also took out a $33.5 million loan in 2017 from Manufacturers and Traders Trust Co.
Located at 11800 Braesview, the property was completed in 1984 and encompasses 73 two-story buildings spread across 23 acres. The former owner implemented multiple capital projects and renovated more than 70 percent of the residences.
The units range between 479 and 1,033 square feet. Apartments have private balconies or patios. Common-area amenities feature a business center, a clubhouse, three swimming pools and private courtyards. The community also has a fitness center, a picnic and barbecue area.
IPA’s Drew Garza and Will Balthrope, along with Marcus & Millichap’s Ben Kalter, brokered the deal on behalf of the seller and procured the buyer.
- ◦Sale/Acquisition
