SAN ANTONIO, TX—Capstone Manufactured Housing has closed the sale of Crescent Place: a large, amenity-rich manufactured housing community for an undisclosed price. The gated community consists of 319 sites on over 60 acres and is ideally located less than 10 miles from downtown San Antonio.
Ian Hilpl, Kevan Enger, and Brian Hummell of Orlando-based Capstone Manufactured Housing represented the seller, James Lee, in the sale of Crescent Place.
“Crescent Place was a unique listing as it was one of the few remaining institutional quality assets in a primary market that was not owned by a national operator. Capstone was well-positioned to represent this asset due to our national reach and ability to utilize both our manufactured housing and multi-family database of over 35,000 investors,” said Hilpl, the leader broker on the sale.
The new buyer plans to enhance the community’s curb appeal, as well as bring in new homes to lease-up the remaining vacant sites at the property.
Crescent Place is located at the intersection of Highway 410 and New Sulphur Springs Road in Southeast San Antonio. The community’s amenities include a swimming pool, clubhouse, basketball court, playground, and dog park.