Newmark Arranges San Antonio Value-Add Transaction

by Channing Hamilton

SAN ANTONIO — The Bascom Group has sold The Redland in the North Central area of San Antonio to Ilan Investments. Newmark brokered the sale, with Patton Jones, Matt Michelson and Andrew Dickson representing the seller. The Redland was built in 2007 and includes 276 units in one-, two- and three-bedroom floor plans that average 1,004 square feet. Amenities include a clubhouse, a fitness center, resort-style pool and two dog parks. The Redland was 93 percent occupied at the time of sale. Houston-based Ilan Investments has been focused on a value-add acquisition strategy since the company’s inception in 1982.

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