JLL Capital Markets announced that it has closed the sale and arranged financing for OakRidge Apartment Homes, a 216-unit, value-add, garden-style multihousing property located in the Northeast San Antonio submarket.
JLL marketed the property exclusively on behalf of the seller, Regional Investment & Management (RIM), and procured the buyer, Bellaire Partners, LLC. Additionally, working on behalf of the new owner, JLL arranged a five-year, fixed-rate acquisition loan through NexBank.
OakRidge Apartment Homes features 15 three-story buildings with units averaging 692 square feet. The well-maintained property features a resort-style pool, state-of-the-art fitness center, clubhouse, business center, grilling area and playground. Located at 11200 Perrin Beitel Road, the property is near Wurzbach Parkway and Interstate 410 Loop, which provides connectivity to all areas in the San Antonio-Austin corridor. Additionally, the property is less than five minutes from the Northern Hills Country Village shopping area, less than two miles from the Northern Hills Golf Club and approximately seven miles from the San Antonio International Airport.
The JLL Capital Markets team representing the buyer was led by Senior Directors Moses Siller and Zar Haro.
JLL’s Capital Markets debt placement team representing the new owner was led by Senior Managing Director Mark Brandenburg.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
