Sapphire Partners Acquires Diamond Ridge Multifamily In San Antonio For $31M

Sapphire Partners has acquired Diamond Ridge, a residential apartment community located at 5235 Glen Ridge Drive in San Antonio, Texas. The property, which was sold for a total of $31 million, consists of 304 units. It is situated within the South Texas Medical Center, a prominent area that supports over 50,000 employees. The multifamily asset is an excellent addition to Sapphire Partners' portfolio, marking their fourth acquisition in the San Antonio market since 2020.

Summary of Transaction Details:

• Property Type: Multifamily
• Transaction Amount: $31,000,000
• Units: 304
• Price Per Unit: $101,974
• Address: 5235 Glen Ridge Drive, San Antonio
• Market: San Antonio
• Buyer: Sapphire Partners
• Brokers: Steve Szabo & Dakota Woll - Foley & Lardner LLP

Steve Szabo and Dakota Woll, brokers from Foley & Lardner LLP, played crucial roles in facilitating the transaction between Sapphire Partners and the seller. Their expertise and negotiation skills were instrumental in ensuring a successful deal. The acquisition of Diamond Ridge further solidifies Sapphire Partners' presence in the San Antonio real estate market.