Austin-based investment firm Monterra Capital Partners has purchased Summer Grove apartments at 7905 San Felipe Boulevard in Northwest Austin.
The garden-style property, which was built in 1984, has 124 one- and two-bedroom units. Community amenities include a pool, a fitness center, and a pet park.
Monterra says it plans to implement a value-add program at the property.
Daniel Elam of Austin’s Muskin-Elam Group represented the undisclosed, Chicago-based seller in the transaction. The amount of the sale was also not disclosed.
