Northmarq’s San Antonio office announces sale of Encore Apartments in Victoria, Texas
SAN ANTONIO, TEXAS (February 17, 2023) — Moses Siller, Zar Haro, Bryan VanCura, Phil Grafe, Brian Booth, and Stephanie Hernandez of Northmarq’s San Antonio office, arranged the sale of the Encore Apartments. The 56-unit multifamily property is located at 903 Linwood Drive in Victoria, Texas. Northmarq represented the seller, 3CM Multifamily.
“The seller was a repeat client who trusted us to execute on a quick and efficient result. The buyer stayed nimble and persistent in the ever-changing market investors faced coming into the new year,” said Grafe. “Through their persistence the buyer recognized and transacted on the tremendous upside in this marquee coastal market.”
Built in 1972, the two-story community offers one-, two-, and three-bedroom apartments ranging from 700 to 1,026 sq. ft. The garden-style apartments are situated on 2.12 acres with 14 buildings in a quiet neighborhood. Positioned just minutes from US Highway 87 and 59 and Loop 463, residents have easy commutes to some of Victoria’s major employers including University of Houston-Victoria, Citizen’s Medical Center, Formosa Plastics, and the Texas Zoo. Encore Apartments features new and renovated interiors, and community amenities include covered parking, a swimming pool, and a pet park.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
