Inland Private Completes San Antonio Multifamily DST
Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, announced that its San Antonio Multifamily II DST offering has been fully subscribed by investors. The Delaware statutory trust raised more than $14.1 million in capital.
“This acquisition was an opportunity to expand our company’s multifamily presence in the San Antonio market,” said Keith Lampi, president and chief operating officer of Inland Private Capital Corporation. “San Antonio consistently ranks as a top market for job growth and is especially desirable among millennials, the largest generation that is driving significant demand in the multifamily sector.”
The San Antonio DST owns the 300-unit Park at Walker’s Ranch, located at 14555 Blanco Road. The property is positioned approximately 2.5 miles northwest of the San Antonio International Airport and provides easy access to the area’s major employers and shopping and recreational opportunities.
Constructed in 1994, the multifamily residential property consists of 25 two-story, garden style townhome apartment buildings and one clubhouse building with a leasing center and fitness center. The apartment buildings contain approximately 247,724 square feet of net leasable area, and the units feature 9-foot ceilings with crown molding, open floor plans, private patios or balconies and gourmet kitchens.
The San Antonio DST’s property is managed by Inland Residential Real Estate Services LLC, an affiliate of Inland Private.
Inland Private Capital Corporation, based in Oak Brook, Illinois, offers replacement property investments for persons participating in a 1031 tax deferred exchange, as well as opportunities for accredited investors who are seeking a real estate investment. As of August 15, 2015, the company has sponsored 175 private placement programs. The 175 private placement programs include 433 properties, with more than 23.91 million square feet of gross leasable area, for an aggregate offering price of more than $4.844 billion.
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