Suburban San Antonio Apartments Change Hands
- Feb 28, 2020
Regional Investment & Management has sold OakRidge Apartment Homes, a 216-unit, garden-style property in San Antonio. JLL Capital Markets represented the seller and secured financing for the buyer, Bellaire Partners. The five-year loan from NextBank has a fixed interest rate.
Constructed in 1984, the 15-building community has a mix of one- and two-bedroom units. Common-area amenities include a pool, fitness center, clubhouse, business center, grilling area and playground. Yardi Matrix data shows that, in January, OakRidge was 91.7 percent occupied.
Located at 11200 Perrin Beitel Road on 7 acres, the property is adjacent to Wurzbach Parkway, 10 miles northeast of downtown San Antonio. The asset is within walking distance of Northern Hills Country Village’s shopping area, and the city’s airport is 6 miles from the property.
Senior Directors Moses Siller and Zar Haro of JLL led the team assisting the seller. Senior Managing Director Mark Brandenburg secured acquisition financing. In October, Siller and Haro represented the buyer of a 149-unit community in San Antonio.