Brixton Capital Acquires 144-Unit Apartment Community In San Antonio
Brixton Capital has acquired The Atlee, a 144-unit, 157,472-square-foot multifamily community in the Olmos Park submarket of San Antonio, Texas for an undisclosed amount.
The Atlee is located at 402 Holland Ave, features premier interior finishes and private attached garages. Community amenities include a clubhouse, pool, dog park, courtyard and leasing office. It’s one of just two multifamily properties of scale in the affluent Olmos Park neighborhood both of which are managed by San Antonio based United Apartment Group (UAG).
“Through our collaboration with UAG, we’re able to utilize their significant presence throughout Texas to identify real-time trends occurring in the market,” said Patric Krall, Director of Acquisitions at Brixton Capital. “San Antonio has continued to perform strongly through a turbulent period providing tail winds for The Atlee, which we believe will continue to outperform as one of the only attainable housing options for residents looking to live in the high barrier-to-entry neighborhood of Olmos Park.”
Brixton plans to renovate the clubhouse and leasing office, the dog park, the courtyard, the pool area and to update the landscaping. The team will also complete renovations that were already underway for the one-, two- and three-bedroom apartment homes. The Atlee is 97% leased.
“The Atlee is a high-quality property in an extremely desirable submarket of San Antonio that benefits from an easy commute to San Antonio’s major employment corridors,” said Brixton Capital President Mark Selman. “This community of homes is a popular choice for students and staff from local universities, as well as individuals and families who want to enjoy easy access to entertainment hubs like the Pearl District, Alamo Heights and downtown San Antonio.”
Additional landmarks nearby include Trinity University, University of the Incarnate Word, Alamo Quarry Market and the San Antonio Zoo.
The Atlee represents Brixton Capital’s second multifamily acquisition in San Antonio. UAG manages 18 multifamily properties throughout the city.
Michael Wardlaw and Colin Cannata of CBRE represented the (undisclosed) seller in this transaction, while Brixton represented itself.