Market activity in San Antonio leads to sale of Class A multifamily asset
JLL secures sale of The Ridge at Bandera Apartments
SAN ANTONIO, November 19, 2018 – San Antonio’s multifamily market continues to draw investor interest. JLL announced today the sale of The Ridge at Bandera Apartments on behalf of I & R Partners. 3CM Multifamily acquired the apartment community located at 10950 Biering Lane in San Antonio.
JLL Capital Markets Managing Director Scott Lamontagne, Senior Vice President Zar Haro, and Senior Vice President Moses Siller led the marketing and sales efforts on the disposition of the 120-unit Class A multifamily property.
“The sale of Ridge at Bandera Apartments further illustrates the significant demand and investor interest for multifamily properties throughout Texas, especially in San Antonio,” said LaMontagne. “The seller provided a tremendous opportunity and we were able to leverage it for equally outstanding offers, ultimately securing a final commitment from John Bollinger at 3CM Multifamily. We’re thrilled to play a role in this win-win agreement for all parties.”
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 a sale, financing, repositioning, advisory or recapitalization execution. In 2017 alone, the firm’s 2,000 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com