**Platte Canyon Capital Makes First Acquisition with San Antonio Multifamily Purchase**
Platte Canyon Capital (PCC), a newly launched multifamily investment firm, has completed its inaugural acquisition with the off-market purchase of Allure Apartments, a 268-unit community located in San Antonio, Texas. The deal includes a $4.7 million capital improvement program to upgrade the property, which was last renovated in 2017. The transaction was facilitated by a team from Newmark.
Located at 7770 Pipers Lane, Allure Apartments offers a mix of 116 units built in 1984 and 152 units constructed in 2017, giving the property a hybrid vintage style. Situated in the desirable Westover Hills submarket, the community offers a variety of one-, two-, and three-bedroom floor plans. Residents enjoy amenities including a swimming pool, fitness center, clubhouse, playground, and barbecue areas.
Platte Canyon Capital launched in January 2025 with a $30 million institutional commitment aimed at funding general partner capital for its investments. The firm remains focused on value-add multifamily opportunities in key markets across Texas, Colorado, and Utah.
