Regency at Lookout Canyon Sold Through ARA Newmark
- Mar 23, 2015
Regency at Lookout Canyon, a Class A apartment complex located in north central San Antonio, has changed ownership. At the time of the sale, it was 95 percent occupied. The price was not disclosed.
Patton Jones and Matt Michaelson of ARA Newmark represented the seller, a private investment group from Atlanta. The buyer is MTC Partners, Ltd. (formerly Millrock), represented in the transaction by Salt Lake City-based Bridge Investment Group Holdings.
“Regency at Lookout Canyon was sought after by institutional and private investors looking for a light value-add investment opportunity,” said Jones. “They were drawn to the area’s outstanding growth prospects, the property’s excellent demographics and its unique townhome -style units.”
Regency at Lookout Canyon was built in 2007. The complex offers one-, two-, three- and four-bedroom units. Apartment amenities feature spacious kitchens with double sinks, carpeting, crown molding, dishwashers and built-in microwave ovens. Community amenities include a resort-style pool, a hot tub, outdoor picnic and grilling areas, a 6,000-square-foot clubhouse, a business center, a health club, a playground, onsite parking and garages.
The community is located at 25675 Overlook Parkway, close to major employment areas including The Ridgewood Business Park, a 122-acre business park, and Stone Oak Medical Center. Highway 281 and Loop 1604 ease transportation for the residents. The Village at Stone Oak shopping center is also nearby, offering retail services such as Super Target, Eddie Bauer, Bath & Body Works, as well as restaurants and a cinema. The Shops at La Cantera is 20 minutes southwest of the property, offering 1.3 million square feet of retail and restaurant space, including Neiman Marcus, Tiffany & Co., Kona Grill and BRIO.
Photo courtesy of Regency at Lookout Canyon.