Viking Capital Acquires Multifamily Property In New Braunfels From Railfield Partners

The Villas at Sundance is a 252-unit multifamily property located at 2056 Sundance Parkway in New Braunfels, Texas. The property, built in 2012, was recently sold in a transaction that showcased the city's rapid growth, with a nearly 40% increase in population over the past five years. Additionally, New Braunfels boasts the highest multifamily occupancy rate in the San Antonio metro area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not disclosed
• Buyer: Vikram Raya - Viking Capital
• Seller: Kenneth Bacon - Railfield Partners
• Brokers: Benjamin Kalter, Drew Garza & Will Balthrope - Institutional Property Advisors - Marcus & Millichap

Institutional Property Advisors (IPA), a division of Marcus & Millichap, played a key role in facilitating the sale of the Villas at Sundance. The transaction was handled by IPA's Will Balthrope, Drew Garza, and Ben Kalter, who represented the seller, Railfield Partners-affiliated entities. Viking Capital, led by Vikram Raya, emerged as the buyer, seizing the opportunity presented by this prime multifamily property for value enhancement through interior renovations.