JLL Capital Markets secured a refinance for Ventura Ridge, a 482-unit, class-A multifamily community in San Antonio, Texas.
JLL worked on behalf of the borrower, Rosewood Property Company, in arranging the loan through New York Life.
Ventura Ridge, located at 5602 Presido Pkwy. in northwest San Antonio, offers a strategic setting with exceptional accessibility. Situated near major transportation arteries I-10 and Loop 1604, the property provides easy access to universities like UTSA and Fortune 500 employers. The community’s prime location is enhanced by proximity to top retail destinations, The Rim and Shops at La Cantera, which attract over 20 million visitors annually.
San Antonio, the fourth youngest city in the US with a median age of 33.9, has become one of the fastest-growing cities nationwide over the past two decades. Its affordable living costs, central Texas location and thriving tech scene have attracted both residents and businesses, earning it a spot among LinkedIn’s top 15 cities to launch a career. The city’s economic growth is further fueled by its 100,000 college students, relocation of major employers, and superior connectivity to major thoroughfares. These factors have contributed to San Antonio’s ranking as the 8th best real estate market in the United States for Overall Real Estate Prospects in 2024.
Ventura Ridge is a four-story mid-rise apartment community built in 2015, spanning 406,759 square feet. The property offers a mix of one-, two- and three-bedroom apartment homes, with an average home size of 844 square feet. The apartments boast luxurious features including soaring 10-foot ceilings, spacious layouts with walk-in closets and additional storage, scenic views from patios and extended balconies, Wi-Fi controlled thermostats, kitchen islands, granite countertops and Bluetooth locks in select units. Community amenities include a resort-style pool, private balconies, a dog park and pet grooming center, a fitness center and a club house.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director John Brownlee, Director John Bauman and Analysts Chad Lisbeth and Scott Cole.
