A joint venture between First Market Properties and Newport Property Ventures, two Florida-based investment companies, acquired the apartment complex at 4032 Southcross Blvd. in San Antonio, TX. Capmark Financial Group Inc. sold the 405-unit property for $3.8 million or $9,383 per unit.
Known as The Reserve at Pecan Valley, the two-story, 313,681-square-foot community was built in 1975 and consists of one- to three-bedroom apartments.
Mike Miller, Will Caruth and Chris Ross with Hendricks & Partners represented the seller.
Please see CoStar COMPS #2221825 for more information on this transaction.