IPA Arranges Sale of San Antonio Condo Community
- Mar 14, 2016
San Antonio—Marcus & Millichap’s division specializing in serving institutional and major private real estate investors, Institutional Property Advisors (IPA), announced the sale of The Palazzo condominium community to Venterra Realty. The financial details of the transaction were not disclosed.
Will Balthrope, Drew Kile and Jordan Featherstone of IPA represented the seller and procured the buyer.
“Originally built as high-end, for-sale condos, the Mediterranean-style Palazzo has a total of 100 condominiums, 10 of which are owned by private individuals and were not part of the offering or the sale,” explains Will Balthrope, IPA executive director. “Located near the South Texas Medical Center and not far from the University of Texas, The Palazzo is an irreplaceable asset that provides the new owner with opportunities for long-term stability and value enhancement.”
The Palazzo is located at 5455 Rowley Road, with easy access to Interstate 10 and Loop 410. In close proximity are USAA’s world headquarters, the Shops at La Cantera, and the Rim.
The condominium community offers one-, two- and three-bedroom floor plans, averaging 1,099 square feet. Amenities include a business center, clubhouse, fitness center, barbecue and picnic area, playground, resort-style pool and breezeways. Unit amenities feature crown molding, paneled wood doors, solid wood cabinetry, marble finished electric fireplace, free standing showers and large walk-in closets.
Image courtesy of Venterra Living