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Embrey Partners sells 299-unit Texas apartment building

Real estate developer Embrey Partners unloaded the Ridgeline at Rogers Ranch apartment property at 3231 N. Loop 1604 West in San Antonio to Atlanta-based multifamily real estate investment group Benimax, the San Antonio Business Journal reported.

The sale price was not disclosed, but the 299-unit property was last valued by the Bexar County Appraisal District at $45 million, the publication noted.

The deal was financed with capital from Chinese global investors, according to the publication, citing ARA, a Newmark company, which represented the seller in the transaction.