Rosewood Corrals Refi for 482-Unit SA Apartments

Rosewood Property Co. has refinanced Ventura Ridge, a 482-unit multifamily property in San Antonio. JLL Capital Markets arranged the deal through New York Life Insurance Co. Commercial Edge reports the firm obtained a $40 million note. Previous financing included a $35.9 million bridge loan originated by Northwestern Mutual.

The Class A Ventura Ridge came online in 2015 and is a four-story, mid-rise property. The four-building community consist of one- to three-bedroom floorplans ranging between 600 and 1,516 square feet. Apartments also feature private balconies or patios and walk-in closets. Common-area amenities include a swimming pool, dog park and pet grooming center, fitness center and clubhouse, coffee bar and billiards table, as well as outdoor entertainment areas. The community, located at 5602 Presidio Parkway, also has 550 parking spaces.

JLL Capital Market’s Debt Advisory team representing the borrower comprised John Brownlee, John Bauman, Chad Lisbeth and Scott Cole.