SAN ANTONIO, TX-LG Capital LLC has beaten out 14 other investors to claim Madison at Pipers Creek, a 292-unit, class B apartment complex here. The Dallas-based firm paid $11.75 million for the community, which was sold by BPG Properties Ltd.

BPG Properties had owned the since 2003 when it acquired it as part of a larger portfolio of assets. Madison at Pipers Creek is the only property the firm owned here, and with the disposition, it has exited the local market – at least for now, according to Greg Curci, acquisition manager at BPG who was responsible for overseeing the disposition.

“We didn’t sell the property because we don’t like San Antonio – we just reached our natural hold period,” Curci explains. “We typically hold for five to seven years, and we’ve owned this property for eight years.”