HZ Buys San Antonio Apartment Complex, Adding to Trend

Real estate firms have bought three more apartment complexes in San Antonio, joining a recent rush of investors attracted to the area’s growing economy and relatively stable housing market.

San Francisco firm Hamilton Zanze bought the luxury Meridian apartment complex next to Quarry Golf Club last week from national firm Cornerstone Real Estate Advisers, property records show. The purchase price was undisclosed, but the 4.8-acre complex was assessed at $33.1 million this year, according to the Bexar Appraisal District.

At least a dozen major apartment complexes in San Antonio have changed hands in the last four months. Investors have said in interviews that they are drawn to the area’s growing population and robust economy based on stable industries such as the military, health care and education.

Read more at the San Antonio Express-News