RIM Trades 216-Unit OakRidge Apartments to Bellaire Partners

California-based Regional Investment & Management (RIM) sold the 216-unit OakRidge Apartments, a Class B, value-add apartment complex on San Antonio’s northeast side. JLL’s Moses Siller and Zar Haro represented the buyer, Bellaire Partners LLC.  Mark Brandenburg, also with JLL, placed a five-year, fixed-rate acquisition loan for the new owner through NexBank.

Situated on 7.2 acres at 11200 Perrin Beitel Rd., the 1980’s-built OakRidge Apartments has 15 three-story buildings with one and two-bedroom units averaging 692 square feet. The property amenities include a resort-style pool, fitness center, clubhouse, business center, grilling area and playground. As of January 2020, the complex was 91.7% occupied.

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