{"id":1004085515,"date":"2013-10-21T20:16:19","date_gmt":"2013-10-22T04:16:19","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=201781"},"modified":"2020-05-13T21:46:30","modified_gmt":"2020-05-14T05:46:30","slug":"ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\/","title":{"rendered":"IPA Arranges Sale of The Ridge at Bandera Apartment Community"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">The apartment community at the intersection of Loop 1604 and Bandera Highway, at 10950 Biering Lane, has changed owners. Institutional Property Advisors (IPA), a multifamily division of Marcus &amp; Millichap, oversaw the transaction.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-201782\" title=\"Ridge at Bandera\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/Ridge-at-Bandera.jpg\" alt=\"\" width=\"300\" height=\"213\" \/><\/p>\n<p style=\"text-align: justify;\">The seller, a Northeast-based opportunity fund, was advised by Will Balthrope, IPA executive director; Scott Lamontagne, IPA director; and Marcus &amp; Millichap senior associate Moses Siller. The buyer is a Kentucky-based family office with a Texas-based asset manager. The financing was arranged by Brian Adams, associate director of IPA Capital Markets in Dallas.<\/p>\n<p style=\"text-align: justify;\">Ridge at Bandera has 120 units that entail 91,200 square feet. It was built in 2002 and includes one- and two-bedroom units, with an average size of 760 square feet. Amenities feature a swimming pool, fully appointed kitchens and an upgraded fitness center. The residential community is newly renovated: The exterior has been painted, the kitchens and baths have been upgraded, and the floors are now wood-style. The parking lot has been resurfaced and restriped, and the landscaping beautified.<\/p>\n<p style=\"text-align: justify;\">\u201cThe Ridge at Bandera\u2019s superior location, recent upgrades and positive rent growth provide the new owner with increased cash flow potential and long-term stability in the surging San Antonio apartment market,\u201d said Balthrope.<\/p>\n<p style=\"text-align: justify;\">\u201cThis is a one-of-a-kind asset in a tight multifamily market near major employment and retail centers,\u201d added Lamontagne.<\/p>\n<p style=\"text-align: justify;\"><em>Photo courtesy of <a href=\"https:\/\/www.facebook.com\/theridgeatBandera\" rel=\"nofollow\" >The Ridge at Bandera<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The apartment community at the intersection of Loop 1604 and Bandera Highway, at 10950 Biering Lane, has changed owners. Institutional Property Advisors (IPA), a multifamily division of Marcus &amp; Millichap, has overseen the transaction, without releasing any details.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1607],"tags":[1815,39471],"class_list":["post-1004085515","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-antonio","tag-national","tag-san-antonio"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IPA Arranges Sale of The Ridge at Bandera Apartment Community - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IPA Arranges Sale of The Ridge at Bandera Apartment Community\" \/>\n<meta property=\"og:description\" content=\"The apartment community at the intersection of Loop 1604 and Bandera Highway, at 10950 Biering Lane, has changed owners. Institutional Property Advisors (IPA), a multifamily division of Marcus &amp; Millichap, has overseen the transaction, without releasing any details.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-22T04:16:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-14T05:46:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/Ridge-at-Bandera.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"IPA Arranges Sale of The Ridge at Bandera Apartment Community\",\"datePublished\":\"2013-10-22T04:16:19+00:00\",\"dateModified\":\"2020-05-14T05:46:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\\\/\"},\"wordCount\":233,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/10\\\/Ridge-at-Bandera.jpg\",\"keywords\":[\"National\",\"San Antonio\"],\"articleSection\":[\"News\",\"San Antonio\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ipa-arranges-sale-of-the-ridge-at-bandera-apartment-community\\\/\",\"name\":\"IPA Arranges Sale of The Ridge at Bandera Apartment Community - 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