By Anca Gagiuc, Associate Editor
San Antonio ranks as a top market for job growth and a magnet for Millennials. With this in mind, Keith Lampi, president & COO of Inland Private Capital Corp. (IPCC) announced that the private investment offering of the San Antonio Multifamily II DST, an IPCC-sponsored Delaware statutory trust, has been fully subscribed by investors, raising over $14.1 million in capital.
The San Antonio DST holds the 300-unit Park at Walker’s Ranch. The property is located at 14555 Blanco Road, approximately 2.5 miles northwest of the San Antonio International Airport, and has easy access to the area’s major employers, as well as shopping and recreational facilities.
The multifamily community was built in 1994. It offers 25 two-story, garden-style townhome apartment buildings and a clubhouse with leasing center and fitness center. Community amenities include a barbecue area, swimming pool, sundeck, and a lounge. Apartment amenities feature nine-foot ceilings with crown molding, open floor plans, private patios or balconies, and gourmet kitchens.
“This multifamily asset presented a unique opportunity to realize a value-add vision by implementing a renovation program to strengthen the property’s competitive position in the San Antonio market,” said Lampi. “Over the next three years, the San Antonio DST plans to complete unit improvements as well as enhance the common areas of the property.”
Image courtesy of Park at Walker’s Ranch