IPA Sells Two Large Multifamily Properties in Texas

DALLAS, TX – Institutional Property Advisors (IPA), a boutique brokerage platform serving the needs of institutional and major private investors, has arranged the sale of two large multifamily properties in Texas in two separate transactions.

 They are the  378-unit Mira Loma (top left photo) located in Live Oak, a suburb of San Antonio, and the 270-unit Alta Bayside (top right photo) in Corpus Christi. The terms of the individual transactions were not disclosed.

IPA’s Balthrope Group, led by Will Balthrope (lower left photo), a senior director and Ryan Epstein, a director, brokered both transactions.

The seller of Mira Loma was Godfrey Residential Group and the buyer was Concierge Asset Management. The seller of Alta Bayside was Wood Partners and the buyer was Camden Property Trust.

“Demand for high-quality investment properties in top locations remains strong,” says Balthrope.

 “Both of these assets demonstrated good operating performances and cleared the market quickly. The IPA platform is gaining traction with institutional clients and large private investors who appreciate the service provided by senior-level advisors,” adds Balthrope. 

Mira Loma, developed in 2009 by Godfrey Residential, is a 335,260-square foot luxury apartment complex located in the northern quadrant of the highly traveled interchange of Interstate 35/Loop 1604 in northeast San Antonio.

Situated on 20.8 acres, Mira Loma is the newest property in this highly desirable submarket at the “front door to San Antonio.” The property is visible from the Interstate 35 and Loop 1604 interchange and provides residents with convenient access to the area’s rapidly growing employment, health and retail centers.

Built in 2007 on 14.5 acres, the 295,593-square foot Alta Bayside is located along Ennis Joslin Road in a strong multifamily submarket of Corpus Christi.

The property is visible from South Padre Island Drive, the primary north-south highway connecting Interstate 37 and downtown Corpus Christi to the Gulf of Mexico, the Naval Air Station and Texas A&M University.

 Alta Bayside features spacious floor plans with sunroom options, gated access, an executive fitness center, 24-hour business center with high-speed Internet and on-site boat parking.

 Contact: Stacey Corso, Public Relations Manager, (925) 953-1716