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LG Capital Drops $12M for 292-Unit MF Asset

SAN ANTONIO, TX-The firm beats out 14 other investors to claim Madison at Pipers Creek, a class B apartment complex here.

By Jennifer Duell Popovec | Updated on June 22, 2011

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.

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