SAN ANTONIO — Platte Canyon Capital (PCC), in partnership with an unnamed Los Angeles-based institutional real estate investment manager, has acquired Allure Apartments in an off-market transaction. The 268-unit community in San Antonio was developed in phases on 11.5 acres, with the first 116 units constructed in 1984 and another 152 delivered in 2017.
The property is in the Westover Hills submarket and includes one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, clubhouse, playground and grilling areas. PCC is planning a $4.7 million capital improvement program that will include interior unit upgrades, in-unit washer-dryer installations, exterior enhancements and amenity improvements. Denver-based PCC launched in January 2025 and is focused on value-add acquisitions across Texas, Colorado and Utah.