SAN ANTONIO — MBP Capital has acquired Honey Hill Apartments, a multifamily asset located in San Antonio’s Medical District, for an undisclosed price. The company has hired Dallas-based Catalyst Multifamily to handle the day-to-day property management of the 346-unit asset. MBP Capital plans to invest $3 million in capital improvements, including full interior renovations, full exterior paint, new patio and balcony fencing, outdoor amenities, remodeled clubhouse and extensive landscaping upgrades.
MBP Capital finished 2016 with more than $55 million of transactions in the fourth quarter. The company acquired the 96-unit Bradfield Place in Garland, Texas; the 201-unit Riverbend Village in Arlington, Texas; and sold the 160-unit The Monterey Apartments in Irving.