ARA ARRANGES SALE OF APARTMENT COMPLEXES IN SAN ANTONIO
SAN ANTONIO — ARA has arranged the sale of Park West & Parliament Bend, two apartment complexes totaling 559 units in San Antonio. Pat Jones and Matt Michelson of ARA represented the seller, Regional Investment & Management, in the transaction. Regional Investment & Management is a California-based owner and operator of multifamily communities throughout Texas. The buyer is a private owner/operator. Park West consists of 327 units and was built in 1979. Parliament Bend consists of 232 units and was built in 1981. Both Class B complexes are located in the Castle Hills submarket in north-central San Antonio. The complexes were 95 percent occupied at the time of sale.