Draper and Kramer Acquires 324-Unit Encino Commons Apartment Community
Chicago-based Draper and Kramer has expanded its presence in the San Antonio market with the acquisition of The View at Encino Commons Apartment Homes, a 324-unit rental community in the Stone Oak area of north central San Antonio, just 17 miles from the city’s central business district.
The View at Encino Commons, at 21303 Encino Commons Blvd, includes 27 two-story residential buildings with a mix of one-, two- and three-bedroom units, as well as a separate clubhouse/leasing center.
“With population and job growth fueling strong absorption rates, San Antonio is an ideal investment opportunity for us as we broaden our national footprint,” Draper and Kramer president and CEO Forrest D. Bailey said. “We first entered this market last year with the acquisition of Sonterra Blue, another rental community in Stone Oak, and based on our positive experience with that property, we sought out additional opportunities in the same area to gain economies of scale."