Brixton Capital in Solana Beach has acquired an out-of-state 144-unit, multifamily community for an undisclosed amount, officials said.
The firm purchased the Atlee, a 157,472-square-foot complex in the Olmos Park area of San Antonio, Tex. It’s Brixton Capital’s second multifamily acquisition in Texas’ second-largest city.
Patric Krall, Brixton’s director of acquisitions, said “San Antonio has continued to perform strongly through a turbulent period,” adding that his firm believes the Atlee “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, a real estate investment firm, plans to renovate the clubhouse and leasing office, the dog park, the courtyard, the pool area and to update the landscaping. The team also will complete renovations that were already underway for the one-, two- and three-bedroom apartments.
The Atlee is 97% leased.
Brixton Capital President Mark Selman called the new acquisition “a high-quality property in an extremely desirable submarket of San Antonio,” that also is a popular choice for students and staff from local universities, and those who want to be close to three San Antonio entertainment hubs.
Michael Wardlaw and Colin Cannata of CBRE represented the undisclosed seller in the transaction, while Brixton represented itself.