Brennen Degner Of Platte Canyon Capital Acquires Two Multifamily Properties For $45 Million

The transaction involves the acquisition of two multifamily properties located at 7770 Pipers Lane and 1950 Fm 306 in the San Antonio and New Braunfels, TX market. The sale price for these properties was $45 million, comprising a total of 520 units with a per-unit price of $86,538.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $45,000,000
• Units: 520
• Market: San Antonio & New Braunfels, TX
• Buyer: Brennen Degner - Platte Canyon Capital

Brennen Degner, representing Platte Canyon Capital, facilitated the purchase of the 268-unit Allure Apartments and the 252-unit Northwood Luxury Apartments. The deals signify the initial acquisitions under Platte Canyon’s new distressed-apartment investment strategy, with plans for $4.7 million in upgrades at the Allure property following the acquisition from DJE Texas Management Group.