SAN ANTONIO – MBP Capital Inc., an investment firm from Denver, has purchased Honey Hill Apartments, a 346-unit Medical District multifamily asset.
Honey Hill, located at 5111 Glen Ridge Dr., will receive $3 million in capital improvements in the first 12-18 months. The new ownership group will raise rents by around 30 percent from the current averages.
MBP has hired Dallas-based Catalyst Multifamily to manage the property. Berkadia San Antonio represented the seller.
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