Jan 17, 2017
1960’s Crestwood units bring $11M plus facelift
SAN ANTONIO – The Crestwood Apartments complex was one of two 1960s properties sold as part of an $11 million portfolio deal.The 130-unit Whitewood and the 153-unit Crestwood were developed...
SAN ANTONIO – The Crestwood Apartments complex was one of two 1960s properties sold as part of an $11 million portfolio deal.
The 130-unit Whitewood and the 153-unit Crestwood were developed more than 50 years ago.
The Whitewood and Crestwood Apartments—at 200 Whitewood St. and 5909 Royalgate Drive, respectively—were bought by a private Carrollton, Texas, investor with plans to update the properties in an effort to raise rents.
They may not have shag carpets or lava lamps, but the two 1960s San Antonio apartment properties are getting a makeover.
Within the sale price, $5.94 million was allocated for the larger Crestwood asset, and more than $5.1 million was put toward the Whitewood property.
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