SAN MARCOS, TEXAS— Atlantic|Pacific Companies (A|P Companies) announced the acquisition of The Palazzo, a 300-unit apartment community in San Marcos, Texas 25 minutes south of Austin. The Palazzo is A|P Companies’ fifth purchase in Texas and fifteenth acquisition within the past 24 months.
“A|P Companies is excited to add another quality asset to its rapidly growing Texas portfolio. The Palazzo complements yet diversifies our existing holdings in Austin and Dallas,” said Mark Briggs, Senior Managing Director at A|P Companies.
A|P Companies additionally announced plans to make capital improvements to the common areas and unit interior upgrades. The garden style apartments feature one, two and three bedroom floor plans and two pools, sports courts and fitness center. Atlantic|Pacific Management will oversee property management.
Atlantic|Pacific Companies currently owns and manages more than 23,000 residential units and more than 500,000 square feet of commercial space across the country.