DENVER - ColoradoDesk -- Platte Canyon Capital ("PCC"), a newly formed multifamily investment firm, in partnership with a Los Angeles-based institutional real estate investment manager, has successfully closed its first acquisition with the off-market purchase of Allure Apartments, a 268-unit community in San Antonio, TX.

Located at 7770 Pipers Lane, Allure Apartments features a distinctive hybrid vintage composition of 116 units built in 1984 and 152 units constructed in 2017. Spread across 11.5 acres in the Westover Hills submarket, the property includes a range of one-, two-, and three-bedroom floorplans.  Common area amenities include a swimming pool, fitness center, clubhouse, playground and barbecue areas.

"This acquisition is perfectly aligned with the disciplined approach we were founded on -- capturing attractive opportunities during times of market dislocation," stated Platte Canyon Capital Chief Investment Officer Darren Hulick. "The property's blended vintage provides an appealing combination of affordability and modern construction, allowing us to drive value by curing deferred maintenance and implementing targeted property enhancements that will attract and retain tenants."

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PCC's $4.7 million capital improvement program will include interior unit upgrades, in-unit washer/dryer installations, exterior enhancements and comprehensive amenity improvements.

Hunter Graul, Head of Acquisitions at Platte Canyon Capital noted, "Our deep local relationships provided us early visibility into this unique opportunity. This acquisition exemplifies our proactive sourcing strategy, and we anticipate substantial operational upside through professional management and targeted capital improvements."

Despite recent supply pressures in San Antonio's multifamily market, PCC sees significant upside potential as new deliveries decline sharply, stabilizing the demand/supply dynamics in the coming years. The community's strategic location offers excellent access to top employers, schools, shopping, and dining options, enhancing its long-term resilience and appeal.

Platte Canyon Capital launched in January 2025, backed by a $30 million institutional commitment specifically dedicated to funding general partner capital on its investments. PCC remains strategically focused on value-add multifamily acquisitions across key markets in Texas, Colorado, and Utah.

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About Platte Canyon Capital
Platte Canyon Capital is a Denver-based private real estate investment firm specializing in value-add multifamily properties. With an emphasis on disciplined underwriting, strategic sourcing, and superior execution, PCC delivers robust, risk-adjusted returns through targeted investments in middle-market assets. For more information, visit www.plattecc.com.