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Utah Buyer Claims 291-Unit Sonoma Canyons

SAN ANTONIO-A family business with a construction history pays just south of the $7.35-million ask for a deal primed for repositioning.

By Amy Wolff Sorter | Updated on October 09, 2006

SAN ANTONIO-A Dallas investor sells his last property in the area, disposing of the 219-unit Sonoma Canyon Apartments to a Provo, UT-based private company. Buyer Sheffield Enterprises Ltd., operating as JSK-Sonoma LLC, has paid just south of the $7.35-million ask.

Patton Jones, sales director in Austin and San Antonio for Apartment Realty Advisors, seller Bruder Co. trades in and out of properties on a regular basis so the sale of 8631 Fairhaven St. doesn’t represent a permanent departure from San Antonio. “This transaction had nothing to do with the market. The market is strong today and the property performed well while he owned it. He just wants to move into different assets,” says Jones, who listed the property with Apartment Realty Advisor colleague Jeff Pritchard. The brokers also helped Bruder to sell the Willows Apartments at 6400 Wurzbach Rd. in February 2006.

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