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SAN ANTONIO — Sterling Real Estate Partners, which has offices in Scottsdale and Los Angeles, has acquired Sierra Ridge Apartments, a 230-unit multifamily community in San Antonio. The property was built in 1981 and was 94 percent occupied at the time of sale. The new ownership plans to upgrade the property’s unit interiors and amenity spaces, which include a pool, resident clubhouse and an outdoor grilling area. The seller was not disclosed. Walker & Dunlop provided an undisclosed amount of acquisition financing for the deal.