Short-Term Hold Ends on Brix at Terrell Hills

A California investor ended its hold on Brix at Terrell Hills, selling the 141-unit multifamily property to Old Three Hundred Capital.  The seller, Brix at Terrell Hills LLC of San Diego, held the northeast San Antonio asset for less than three years.

Mike Miller, Will Caruth, Chris Ross and Cody Courtney with Berkadia marketed the asset on behalf of the seller. “This was a unique opportunity to acquire a value-add property in a thriving submarket of San Antonio,” Miller said. “With the heavy lifting of exterior renovations already completed by the previous owner, the buyer can begin interior renovations and realize immediate upside in rental increases and tenant retention.”

Situated on 4.4 acres at 2447 Harry Wurzbach Rd., the apartment complex delivered in the mid-1960s, and offers studio, one- and two-bedroom units. Amenities include an outdoor pool and sundeck, barbecue grills and a pergola, laundry facilities, a business center and covered/carport parking.

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