Disrupt Equity Partners of Houston shook hands with PPA Group to acquire the Admiral Apartments, a 208-unit multifamily property situated on San Antonio’s northeast side. The Austin-based seller ended its five-year hold thorough the asset’s sale.
JLL’s Scott LaMontagne, Robert Arzola, Moses Siller and Zar Haro led the marketing and sales efforts on behalf of the seller. “San Antonio continues to see a healthy appetite for value-add multifamily product,” LaMontagne said. “The region continues to benefit from unprecedented population increases, job gains and rental rate increases, making the market extremely attractive for investors seeking long-term returns.”
Situated on 9.6 acres at 8000 Midcrown Dr., Admiral Apartments delivered in the mid-1970s, and underwent renovations in 2016. The complex offers one-, two- and three-unit apartments. Amenities include a pool and playground, fitness center, picnic area and laundry facilities.