SAN ANTONIO, TX—With two multifamily communities catering to major employers including South Texas Medical Center, USAA, Randolph Air Force Base/Joint Base San Antonio and Amazon 's pending $191-million fulfillment center, Mirada and The Heritage , recently sold in two transactions for undisclosed prices. The two garden-style apartment communities that comprise a 557-unit value-add portfolio were both 95% occupied at the time of sale. Austin-based executive managing director Pat Jones and San Antonio-based managing director Matt Michelson represented the sellers, private limited partnerships affiliated with TriVest McNeil Real Estate , a fully integrated real estate operating company focused on acquisition and management of market rate apartment communities. "The Heritage and Mirada were popular with investors seeking well-located, value-add opportunities,” said Jones. “Given their great bones but dated interiors, the properties are ripe for cosmetic upgrades." In the first transaction, California-based Regional Investment and Management added Mirada to its existing six-property portfolio in Texas. Built in 1995, the 252-unit property features a fitness center and resort-style pool. Possible value-add opportunities include the continuation of unit upgrades, the addition of a community dog yard and renovations to the clubhouse. The Heritage marks the 12th Texas acquisition in recent years for the Austin-based CFH Investment Partners . Constructed in 2005, the 305-unit property features a gymnasium-sized basketball and sport court, grill areas and a leasing center with a business center. It offers the new owner opportunities to add value through the continuation of unit upgrades. Jones tells GlobeSt.com: “Investors are drawn to San Antonio's healthy in-migration and job growth driven by H-E-B Grocery, Joint Base San Antonio (JBSA), Frost Bank, Geekdom, Wells Fargo, USAA and the Methodist Hospital ." ARA Nemark is a Newmark Company. Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more. SAN ANTONIO, TX—With two multifamily communities catering to major employers including South Texas Medical Center, USAA, Randolph Air Force Base/Joint Base San Antonio and Amazon 's pending $191-million fulfillment center, Mirada and The Heritage , recently sold in two transactions for undisclosed prices. The two garden-style apartment communities that comprise a 557-unit value-add portfolio were both 95% occupied at the time of sale. Austin-based executive managing director Pat Jones and San Antonio-based managing director Matt Michelson represented the sellers, private limited partnerships affiliated with TriVest McNeil Real Estate , a fully integrated real estate operating company focused on acquisition and management of market rate apartment communities. "The Heritage and Mirada were popular with investors seeking well-located, value-add opportunities,” said Jones. “Given their great bones but dated interiors, the properties are ripe for cosmetic upgrades." In the first transaction, California-based Regional Investment and Management added Mirada to its existing six-property portfolio in Texas. Built in 1995, the 252-unit property features a fitness center and resort-style pool. Possible value-add opportunities include the continuation of unit upgrades, the addition of a community dog yard and renovations to the clubhouse. The Heritage marks the 12th Texas acquisition in recent years for the Austin-based CFH Investment Partners . Constructed in 2005, the 305-unit property features a gymnasium-sized basketball and sport court, grill areas and a leasing center with a business center. It offers the new owner opportunities to add value through the continuation of unit upgrades. Jones tells GlobeSt.com: “Investors are drawn to San Antonio's healthy in-migration and job growth driven by H-E-B Grocery, Joint Base San Antonio (JBSA), Frost Bank, Geekdom, Wells Fargo, USAA and the Methodist Hospital ." ARA Nemark is a Newmark Company. Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.