SAN ANTONIO- Raia Properties of New Jersey has ended its four-year hold of the 271-unit Vista Ridge Apartments, selling the class A complex to a private investor. Though the sales price was kept under wraps, the Bexar Central Appraisal District assesses the property at close to $31 million.
The multifamily property was built in 2007 at 6522 Camp Bullis Rd., near the high-end Dominion neighborhood. Patton Jones and Casey Fry with Apartment Realty Advisors represented the seller in the transaction.
“Vista Ridge was sought after by institutional and private wealthy investors seeking a core investment opportunity,” Jones says. “Investors were drawn to the affluent demographics, outstanding product finishes, and the high-end retail and entertainment of the Shops at La Cantera and The Rim.”
Vista Ridge is 95% occupied and offers one-, two- and three-bedroom units.
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