Westmount Acquires San Antonio Community
The Place at Houston Street is a garden-style asset with 200 units. The new owner is set to invest in improvements, including new fencing, a renovated pool and refreshed landscaping.
After recently selling Westmount at the Colonnade, a garden-style community in Grand Prairie, Texas, Westmount Realty Capital has picked up a 200-unit multifamily asset in San Antonio. According to Yardi Matrix data, MC Cos. sold the garden-style community, which is set to undergo improvements by the new ownership.
Located at 4611 E. Houston St., The Place at Houston Street is 9 miles east of downtown San Antonio. The community is within 2 miles of Interchange 10 and 410 and is close to several schools and parks.
Completed in 2003, the asset encompasses two-, three- and four-bedroom units ranging from 1,183 to 1,390 square feet. In-unit amenities include washer/dryer connections and vaulted ceilings. Common-area amenities include a swimming pool, a dog park, a covered playground, a business center and several laundry facilities.
“The Place at Houston Street presented Westmount with the opportunity to acquire a distinctive, well-maintained community with substantial value-add potential through improved operations and the addition of fenced yards to a portion of the residences. Additional improvements will include a renovated pool and clubhouse, refreshed landscaping, new signage, fencing and gates and exterior paint,” said Michael Anderson, managing director of acquisitions for Westmount, in prepared remarks.
Image courtesy of Westmount Realty Capital