SAN ANTONIO—MC Companies will purchase the Outspan Townhomes, a 200-unit complex in south San Antonio for an undisclosed price.

With no new multifamily construction scheduled in the South San Antonio submarket in 2014, demand for updated apartments is high.

"This is one of the few new options in the submarket," says Ryan Epstein, senior vice president with CBRE. "It will fill the void for tenants looking for quality construction and very large unit sizes for their families."

The 94% occupied community is located near San Antonio's major military employment centers, Brooke Army Medical Center and Fort Sam Houston. Fort Sam Houston will soon house a new Armed Forces medical training headquarters which will greatly impact the number of potential residents in the submarket says CBRE.

Texas continues to see heightened interest from investors in every asset type. Investors are following job growth and business friendly Texas brings companies to the state attracting attention from all types of investors, Mike Lewis, principal of Velocis tells GlobeSt.com

"If Texas isn't number one on everyone's list, it is certainly near the top," adds Lewis.

Epstein, Charles Cirar and Michael Wardlawof CBRE represented the undisclosed seller in the transaction.