SAN ANTONIO--CBRE has arranged the sale of Sunset Ridge, a 279,026-square-foot multifamily community in the Alamo Heights area of San Antonio. Philadelphia-based Resource Real Estate purchased the value-add asset from Austin-based SV Alamo Heights LP for an undisclosed price.
“Sunset Ridge is a value-add opportunity because of the infill location and the rent gap between it and the newer properties in the Broadway area,” Ryan Epstein, CBRE executive vice president, told GlobeSt.com. “This could have easily been [and almost was] a redevelopment site, as it was pursued by many developers.”
The apartment community is surrounded by mid-20th century architecture. It is also within the desirable Alamo Heights Independent School District and centrally located in the city.
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