Harvest Equities has recently purchased The Place at Castle Hills, a large multifamily complex in San Antonio consisting of 680 units. The previous owner, MC Cos., sold the property to Harvest Equities.
According to data from Yardi Matrix, the community was last sold in July 2011 when MC Cos. acquired it from Ilan Investments. In 2017, MC Cos. also took out a $33.5 million loan from Manufacturers and Traders Trust Co.
The complex is located at 11800 Braesview and was built in 1984 on a sprawling 23-acre property with a total of 73 two-story buildings. Under its previous ownership, multiple capital projects were completed and over seventy percent of the units were renovated.
The apartments range between sizes of approximately479 square feet to1,033 square feet with private balconies or patios for each unit’s residents’ enjoyment.The community offers various amenities such asa business center,a clubhouse,and three swimming pools surrounded by private courtyards.There is also afitness centerand picnic/barbecue area available for use by residents.
Drew Garza and Will Balthrope from IPA along with Ben Kalterfrom Marcus & Millichap facilitated this transaction on behalf of the seller while securing Harvest Equities as the buyer.
