Luxurious 328-Unit Class A Apartment Homes Acquired by American Landmark
SAN ANTONIO—October 26, 2021. San Antonio-based Koontz Corporation (Koontz) today announced it has sold Palmetto Pointe Luxury Apartment Homes, a 300,000-plus square foot, 328-unit class A multi-family community located in San Antonio, Texas to Florida-based American Landmark.
“We have enjoyed incredible results and success with our multi-family projects in San Antonio,” said Koontz Corporation President and CEO Bart Koontz. “Palmetto Pointe Luxury Apartment Homes is a prime example of our experience in developing a class A luxury apartment homes in our region. We are pleased that American Landmark recognized the value that we have created.”
Developed and constructed by Koontz, Palmetto Pointe was completed in November 2020 and is situated on a pristine 15.2-acre tract located at USAA Boulevard and Fredericksburg Road, near the USAA main campus and the South Texas Medical Center. The 13-building urban development was designed with stone and stucco exteriors and one- and two-bedroom garden apartment homes. All apartments feature island kitchens with stainless steel appliances and Class A finishes, including quartz countertops, custom cabinetry and brushed nickel hardware; nine-foot ceilings; simulated wood and ceramic tile flooring; garden-style bathtubs; full-size washers and dryers; oversized walk-in closets; ample storage space; private patios and balconies; and private detached garages. The community’s amenities include a resort-style pool with tanning ledge and outdoor kitchen, poolside lounge and ﬁre pit, as well as a ﬁtness center and a resident clubhouse.
Will Balthrope and Drew Garza of Institutional Property Advisors, a division of Marcus & Millichap, brokered the sale on behalf of the seller.
Koontz has multiple commercial projects under construction and development including, The Moderno Apartment Homes in New Braunfels; Encino Trace Apartment Homes in College Station; Fiesta Trails located at 12631 Vance Jackson Road, a 10-acre site which previously housed the Regal Fiesta Stadium 16 theater; and Westport Industrial Park, a 35-acre industrial project near the corner of South Callaghan Rd and Highway 151 on the near west side of San Antonio.
Since its founding in 1997, Koontz Corporation has developed over seven million square feet of commercial properties, including 22 multi-family projects totaling over six million square feet and more than 5,700 units. In addition to multi-family, the scope of Koontz’s properties includes office, medical office, industrial/flex and retail.
“We remain strongly committed to actively developing and investing in the city of San Antonio and Texas,” said Koontz. “And we look forward to continuing to provide exceptional caliber projects to serve the ever-growing communities where we are located.”
About Koontz Corporation
Headquartered in San Antonio, Koontz Corporation is an award-winning industry leader in the development of commercial and multi-family properties throughout the state of Texas. The company takes great pride in building projects of enduring quality and exceptional value for their clients, investors, buyers and tenants. For more information, visit //koontzcorp.com.