Just-Acquired Marbach Park Apartments Suffers Fire

Bellaire Partners widened its footprint in the San Antonio metro with the acquisition of Marbach Park apartments. The Sherman Oaks, CA buyer struck the deal for the 304-unit, west-side apartment complex with ValCap Group.

Within hours of the sale being reported in the San Antonio Business Journal, a two-alarm fire broke out at the complex. According to local media, 16 units in one building had moderate to severe damage.

A purchase price for the asset at 1880 Horal St. was not provided, though records show that Bellaire Partners borrowed $12.9 million from SunTrust bank for the acquisition. The property, which delivered in 1985, was Bellaire Partners’ fourth acquisition in the area.

There is no word, yet, on repairs, though Bellaire Partners’ George Lintz told the SABJ, before the fire, that all units would be upgraded.

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