Platte Canyon Capital acquires Allure Apartments

San Antonio, Texas, United States

Platte Canyon Capital's first acquisition was the 268-unit Allure Apartments on an 11.5-acre site near Westover Hills in San Antonio, bought off-market from DJE Texas Management Group, which was liquidating assets amid a federal investigation of its founder. The property was built in two phases (116 units in 1984 and 152 in 2017), and PCC plans a $4.7 million program of interior upgrades, in-unit washers and dryers, exterior and amenity work. The price was not disclosed separately; later reports put the combined cost of Allure and Northwood at $45 million.