3CM Multifamily Sells Texas Community
A Northmarq team brokered the transaction.
Encore Apartments. Image courtesy of Northmarq
3CM Multifamily has sold Encore Apartments, a 56-unit multifamily community in Victoria, Texas. Northmarq brokered the transaction on behalf of the seller.
Renamed to Elevation on Airline, the 1972-completed community encompasses 14 buildings with one-, two- and three-bedroom floorplans ranging between 700 and 1,026 square feet. Apartments feature washers and dryers, kitchen appliances, central A/C and patios or balconies. Amenities include a swimming pool, a pet park and assigned parking. South Texas Rentals serves as property manager.
The garden-style community is located at 903 Linwood Drive, providing direct access to Route 463. University of Houston-Victoria and Victoria College are 1.4 miles away, while Citizens Medical Center and DeTar Hospital Navarro are within a 3-mile radius. There are several dining options, retail centers and entertainment venues nearby.
Northmarq’s team consisted of Managing Directors Moses Siller and Zar Haro, Vice President Bryan VanCura and Senior Associate Brian Booth, together with Associates Phil Grafe and Stephanie Hernandez. Northmarq has also recently provided Hamilton Point Investments with $67.3 million in acquisition financing for the purchase of two properties totaling 558 units in Omaha, Neb.
