SOURCE: MIG Real Estate

MIG Real Estate

October 06, 2014 08:30 ET

MIG Real Estate Acquires 246-Unit Multifamily Community in San Antonio, Texas

NEWPORT BEACH, CA and SAN ANTONIO, TX--(Marketwired - Oct 6, 2014) - MIG Real Estate, a Newport Beach, California-based real estate investment company, has completed the acquisition of The Marquis at Roger's Ranch, a 246-unit apartment home community in San Antonio, Texas.

"The Marquis at Roger's Ranch offers an exciting opportunity with its attractive amenity package and location within a strong job market," said Greg Merage, Chief Executive Officer of MIG Real Estate.

The Marquis at Roger's Ranch is located at 2727 Treble Creek, just off Loop 1604 between the affluent master-planned developments of Stone Oak and La Cantera. Situated eight miles north of San Antonio International Airport, the property is positioned in one of the fastest growing job markets in San Antonio, with nearby job centers including the Stone Oak Medical Center, anchored by North Central Baptist Hospital and Methodist Stone Oak Hospital.

Residents of the multifamily community benefit from nearby retail and entertainment offerings including The Shops at La Cantera and the RIM, with the activity of Downtown San Antonio less than 20 miles away. The Marquis at Roger's Ranch offers direct access to recreation at the neighboring Gold's Gym, several nearby golf courses and the paved, two-mile Roger's Ranch jogging trail.

The multifamily community consists of 14 two- and three-story buildings with one, two and three bedroom floor plans, as well as two-story townhome-style units with dual car attached garages. Apartment homes feature high ceilings, gourmet kitchens, walk-in closets, and spacious patios or balconies. Common area amenities at The Marquis at Roger's Ranch include a tiered, resort-style swimming pool, professional outdoor kitchen, large clubhouse, well-equipped gym and business center. Additionally, the community offers gated access to its residents.

The Marquis at Roger's Ranch represents MIG Real Estate's fifth investment in Texas multifamily properties, following its investment in Wynhaven at Willowbrook in Houston and The Cottages in Austin in 2012, as well as its 2013 purchases of Pine Creek Ranch in Houston and Adagio Swenson Farms in Austin.

Charles Cirar, Michael Wardlaw, Colin Cannata and Darcy Hammar of CBRE represented the seller in the transaction. Alliance Residential will manage the property for MIG Real Estate.

About MIG Real Estate

MIG Real Estate owns and operates a diverse portfolio of assets throughout Arizona, Nevada, Colorado, Utah, Washington, North Carolina, Florida, Wyoming, Alberta, Hawaii and multiple markets in California and Texas. The company is currently engaged in an aggressive expansion strategy, seeking "core-plus," "value-add" and "opportunistic" investments in hospitality, retail, office, industrial and multifamily product types. MIG Real Estate has acquired more than seven million square feet of property, totaling over $1 billion of assets since April 2009. Additional information is available at https://www.migcap.com/RealEstate.

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