ARA Newmark Arranges Sale of Apartment Complex in San Antonio

SAN ANTONIO — ARA Newmark has arranged the sale of Ventana, a 390-unit, Class A asset located in northwest San Antonio. Occupancy at the time of the sale was 95 percent. Patton Jones and Matt Michelson of ARA Newmark represented the seller, California-based Francis Property Management, in the transaction. A real estate investment and management company, Francis Property Management maintains an existing portfolio of Class A apartment communities located throughout Texas and California. The buyer, Venterra Realty Management, purchased the property for an undisclosed price. Constructed in 1994, Ventana is a Class A, garden-style community located in the Northwest Medical Center submarket of San Antonio. Apartment units at Ventana average 975 square feet and feature nine-foot ceilings with crown molding, brushed nickel lighting and plumbing fixtures. There are 14 floor plans ranging from 671-square-foot, one-bedroom homes to 1,403-square-foot, three-bedroom homes, with some units including direct access garages. Property amenities at Ventana include two swimming pools, poolside wireless internet, attached garages, a business center and fitness center.