Platte Canyon Capital acquires Northwood Apartments

New Braunfels, Texas, United States

PCC bought the 252-unit Northwood Apartments in New Braunfels, in the San Antonio metro, off-market from its original developer in late April 2026. The garden-style property, built in 1998 with a second phase in 2017, was 70% leased at closing, and PCC plans unit renovations, amenity and exterior upgrades and a switch to institutional management. It was the first deal under a programmatic partnership with a Los Angeles-based investment manager targeting up to $100 million of special-situation multifamily equity.