Business Wire·Sep 3, 2026, 7:01 PM ET

IPA Capital Markets Arranges $40.3 Million Financing for 312-Unit Birwood Heights in San Antonio

IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), arranged $40.3 million in financing for Birwood Heights, a 312-unit apartment community in San Antonio, Texas.
The non-recourse bridge loan features a three-year initial term, 80% stabilized loan-to-value ratio, & 6.45% stabilized debt yield.
Managing director Brandon Roth, along with Adam Mengacci & Travis Headapohl, secured the loan on behalf of a private client.
Lenders submitted nine floating-rate & six fixed-rate quotes, indicating strong demand for newer-vintage multifamily properties in the Sunbelt.
The property opened in March 2019 & includes units with granite countertops, stainless steel appliances, kitchen islands, & in-unit laundry.
Shared amenities feature a resort-style pool, fitness center, outdoor grilling areas, & resident lounges.
Located near Loop 1604 & Northwest Military Highway, the community provides access to Interstate 10, the North East Independent School District, & major employment hubs.
Nearby demand drivers include USAA headquarters, the South Texas Medical Center, The University of Texas at San Antonio, The Rim, & The Shops at La Cantera.
IPA Capital Markets provides debt, mezzanine financing, preferred equity, joint venture equity, & sponsor equity solutions to institutional clients.
Marcus & Millichap closed 8,818 transactions totaling $50.8 billion in 2025 across more than 80 offices in the US & Canada.