HFF Arranges Sale of The Place at Overlook
- Dec 02, 2015
HFF announced it closed the sale of the Place at Overlook, a 411-unit apartment community in northwest San Antonio. HFF marketed the asset exclusively on behalf of the buyer, MC Companies. The buyer, My Residential, a private company from Denver, Colo. acquired its first property in San Antonio for an undisclosed amount on a loan assumption basis.
The HFF investment team representing the seller was led by Director Matt Pohl and Senior Managing Director Sean Sorrell.
“The Place at Overlook is a well-located property in northwest San Antonio that presented the marketplace with an interesting value-add opportunity,” said Pohl. “We were pleased to find a qualified buyer that was capable of navigating the loan assumption process and to assist My Residential with their first acquisition in the San Antonio market.”
The Place at Overlook is comprised of 31 buildings that sit on 16.04 acres at 4934 Woodstone Drive, near the intersection of Interstate 10 and Huebner Road. In close proximity are Loops 410 and 1604, as well as major employers, including USAA and the South Texas Medical Center.
The community offers 294,000 rentable square feet and a mix of one- and two-bedroom apartments. Community amenities include a clubhouse, three swimming pools, business center, fitness center, five laundry care facilities, full-size sport court, sand volleyball court and gated access.
Image courtesy of The Collection at Overlook.