IPA Arranges Sale of 300-Unit Celeste at La Cantera Apartments in San Antonio

by Taylor Williams

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Celeste at La Cantera, a 300-unit apartment community in San Antonio. Built in 2018 by USAA Real Estate and Cambridge Development Group, the property features one-, two- and three-bedroom units that are furnished with quartz countertops, stainless steel appliances and luxe plank flooring. Amenities include a rooftop pool, fitness center and a sky lounge. Will Balthrope and Drew Garza of IPA represented the seller/developer in the transaction and procured Churchill Forge Properties as the buyer. Nate Sittema, Kristen Reilley, Grant Harris and Elliot Voreis of CBRE arranged a 12-year, $39.9 million acquisition loan through a life insurance company on behalf of the new ownership.

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