Press Releases
Marcus & Millichap Arranges Sale of Park Hill Apartments in Kerrville, Texas
July 30, 2026
KERRVILLE, Texas, July 30, 2026 — Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Park Hill, a 49-unit apartment property in Kerrville, Texas.
“Kerrville remains an undersupplied apartment market, and properties like Park Hill continue to benefit from strong occupancy,” said Ben Kalter, director investments. “As new development gradually comes online, well-located value-add communities should continue to offer opportunities for rent growth.”
Kalter, Will Balthrope and Drew Garza, investment specialists in Marcus & Millichap's San Antonio office, exclusively marketed the property on behalf of the seller, a local investor, and procured the Boerne-based buyer.
The asset is located at 815 Ranchero Rd. Built in 1977, the community totals 34,825 square feet on 3.9 acres. After initially being offered as part of a four-property portfolio, the property was remarketed individually and generated strong investor interest. The buyer plans to implement interior and exterior renovations designed to enhance the property and support future rent growth.
“Kerrville remains an undersupplied apartment market, and properties like Park Hill continue to benefit from strong occupancy,” said Ben Kalter, director investments. “As new development gradually comes online, well-located value-add communities should continue to offer opportunities for rent growth.”
Kalter, Will Balthrope and Drew Garza, investment specialists in Marcus & Millichap's San Antonio office, exclusively marketed the property on behalf of the seller, a local investor, and procured the Boerne-based buyer.
The asset is located at 815 Ranchero Rd. Built in 1977, the community totals 34,825 square feet on 3.9 acres. After initially being offered as part of a four-property portfolio, the property was remarketed individually and generated strong investor interest. The buyer plans to implement interior and exterior renovations designed to enhance the property and support future rent growth.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
