June 8, 2018
Benimax Investment Group of Atlanta acquired Ridgeline at Rogers Ranch, a 299-unit multifamily complex in northwest San Antonio. The buyer struck the deal with seller/developer Embrey Partners. The investment is Benimax’s second in the San Antonio area, and it relied on capital from Chinese investors to close the deal.
Pat Jones with ARA Newmark represented the seller.
The complex delivered in 2017. Situated on 15.5 acres at 3231 N. Loop 1604, Ridgeline at Rogers Ranch offers one, two and three-bedroom units. On-site amenities include two pools, business and fitness center, concierge service and club house.
The asset drew interest and offers from international investors, private owner/operators and institutional fund borrowers. “While Northwest San Antonio is always popular among investors due to its Hill Country setting, exemplary schools, expensive single family and access to the city’s finest retail and entertainment, this transaction signals the market’s ability to attract foreign capital,” Jones said.
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