Texas + Apartments | December 10, 2020

ABR Joint Venture Launches with SA Acquisition

Alex. Brown Realty (ABR) and joint venture partner Continental Realty Group, through its Continental Realty Assets (CRA) subsidiary, acquired Club at Stone Oak Apartments, a 250-unit apartment community in San Antonio. ABR Chesapeake Fund VI, a value-add real estate fund sponsored by ABR, invested $7.3 million in the JV.

Built in 2005, the community includes a mix of one-, two- and three-bedroom units with 9’ ceilings and private patios and balconies. The JV plans a strategic renovation program for the unit interiors and targeted enhancements to the common areas and amenities.

“Even given the economic challenges and uncertainties of today, we are believers in the San Antonio market due to its diversified and expanding employment base coupled with the relative affordability and quality of life it has to offer,” said Robert Ireland, CRA’s managing director of investments.

Club at Stone Oak represents the first transaction between ABR and CRA.

Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With ABRConnect With Continental Realty

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints