Alex. Brown Realty & Continental Realty Group acquire multifamily project in San Antonio

Alex. Brown Realty and their joint venture partner Continental Realty Group, through its subsidiary Continental Realty Assets, has acquired Club at Stone Oak Apartments, a 250-unit apartment community in San Antonio. ABR Chesapeake Fund VI, a value-add real estate fund sponsored by ABR, invested $7.3 million in the joint venture.

Built in 2005, the community includes a mix of one-, two- and three-bedroom units with nine-foot ceilings and private patios and balconies. Amenities include a clubhouse with billiards table, state-of-the-art fitness center, resort-style pool, business center, outdoor kitchen and leasing center. The gated community also offers ample parking with detached garages, carports and a car care center. The joint venture plans a strategic renovation program for the unit interiors and targeted enhancements to the common areas and amenities.

“Even given the economic challenges and uncertainties of today, we are believers in the San Antonio market due t