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464-Unit San Antonio Complex Under Contract

SAN ANTONIO-The Iron Horse Valley Apartments along the high-traffic Loop 410 is scheduled to close Nov. 30, confirms a source close to the deal. The 8.23-acre property is assessed at $5.4 million.

By Beverly Ford | Updated on October 17, 2002

SAN ANTONIO-The city’s sluggish multifamily resale market will get a slight boost with the pending sale of the 464-unit Iron Horse Valley Apartments.

The property, located at 2439 NE Loop 410, currently is under contract to be sold to an undisclosed buyer on Nov. 30. Situated on 8.23 acres, the apartments are owned by Texas Property Partners II in care of Wilbur Properties Inc. of Austin, according to Bexar County tax records. The county has assessed the apartment complex at $5.4 million for 2002.

Wilbur Properties could not be reached for comment on the sale and Anterra Management Co., which manages the complex, referred all calls to broker Brian O’Boyle of O’Boyle Properties in Dallas. O’Boyle did not return calls before press time. A broker with Anterra, however, confirmed to GlobeSt.com that the sale is set to close by the end of next month.

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