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Boerne Apartments Trade One California Owner for Another

BOERNE, TX-The 40-unit Bentwood complex has no trouble trading hands since it's situated in a market with a good cap rate. The town, about 30 miles from San Antonio, is a favorite resting ground for city workers.

By Tim Green | Updated on April 03, 2002

BOERNE, TX-A California buyer and a California seller have completed a deal for a townhouse apartment complex in Boerne, 30 miles northwest of San Antonio. Seller Peter Wendell Evans of Huntington Beach, CA and buyer Harris Family Trust of Santa Rosa, CA, agreed not to disclose the purchase price of the 40-unit Bentwood complex at 116 Bentwood Dr.

Scott Weems, one of three Hendricks & Partners advisers involved in the transaction, says Boerne has a “pretty good” multifamily market. It was rated the third-fastest appreciating multifamily market in the San Antonio area by American/Metro Study Corp., Weems says. “That market is a real cap rate market.”

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