Brixton Capital has acquired Carrington Place, a 172-unit multifamily property in the fast-growing San Antonio suburb of Boerne, Texas from Dallas-based MHP Capital, Inc. for an undisclosed price.
Located at 825 Johns Road off I-10 in the historic town of Boerne, the property is just minutes away from San Antonio. Surrounded by the rolling hills of the Texas Hill Country and minutes from Cibolo Creek, the 133,864-square-foot apartment complex was built in 2003.
“Boerne is a highly desirable, growing area of San Antonio with a shortage of quality rental housing,” said Jim Hamilton, Brixton Capital’s vice president of acquisitions. “We’re excited by the opportunity to enhance the property through strategic physical upgrades and improvements to operations.”
Brixton Capital plans to rebrand the Class A property and complete several property improvements, including upgrades to the complex’s building exteriors, amenity spaces and unit interiors. United Apartment Group will manage the property.
Colton Burch of Rowan Multifamily Advisors represented Brixton Capital in the transaction, while Robert Arzola of JLL represented MHP Capital Partners.
“The addition of Carrington Place aligns with Brixton’s strategic mission to acquire and enhance workforce housing across the southwest, including the Texas marketplace,” said Mark Selman, president of Brixton Capital. “This is Brixton’s ninth multifamily acquisition in Texas. UAG, which manages all of our properties in the southwest, is an important partner; their market presence and the strength of their team and leadership have been instrumental in our successes in the rebranding, enhancement and operations of the properties that they manage for us.”
Brixton Capital is a preeminent private real estate investment firm that seeks to generate outstanding, risk-adjusted returns by unlocking embedded value in commercial real estate transactions spanning all property types. Headquartered in Solana Beach, California, Brixton is led by a team of seasoned real commercial real estate experts with an average of more than 25 years of experience.
Brixton currently owns and operates a portfolio valued in excess of $1.5 billion, representing over 10 million square feet of retail, multifamily, office and land investments across the United States and Europe.