Platte Canyon Capital (“PCC”), a newly formed multifamily investment firm, closed its first acquisition with the off-market purchase of Allure Apartments, a 268-unit community in San Antonio, TX. PCC will spend $4.7 million on a capital improvement program. The property was last renovated in 2017. A Newmark team listed it.
Located at 7770 Pipers Lane, Allure Apartments features a hybrid vintage composition of 116 units built in 1984 and 152 units constructed in 2017. In the Westover Hills submarket, the property includes a range of one-, two-, and three-bedroom floorplans. Common area amenities include a swimming pool, fitness center, clubhouse, playground and barbecue areas.
Platte Canyon Capital launched in January 2025, backed by a $30 million institutional commitment dedicated to funding general partner capital on its investments. PCC remains strategically focused on value-add multifamily acquisitions across key markets in Texas, Colorado, and Utah.
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