Address:
20614 Stone Oak Parkway
San Antonio, Texas 78258

Connell sold the property in the 4th Qtr 2014.

The Estates at Canyon Ridge is a condominium-quality "AA" apartment community located in the prestigious Stone Oak master-planned community in north central San Antonio, Texas and approximately eight miles north of San Antonio International Airport.

The Estates at Canyon Ridge includes 270 apartment homes in 27 two-story buildings plus a single story clubhouse/leasing center building on nearly 20 acres. The units average nearly 1,200 square feet reflecting the award-winning Big House© design, which includes 100% private, attached direct access garages and ground level entries. The controlled access gated community has an outdoor grilling area and select units enjoy magnificent canyon views.

The Estates at Canyon Ridge offers 14 distinct floor plans, ranging in size from 725 to 1,680 square feet, with a very large average size of nearly 1,200 square feet. The property's appealing amenity package includes a multi-level cascading resort-style swimming pool and a luxurious clubhouse with an elegant great room, recreation/media, cyber cafe with Wi-Fi connections, full service business center, premier fitness center, and dual tanning salon.

Connell acquired the 2008 built property in the 4th Qtr 2010 and immediately commenced an $800k hard surface flooring upgrade program to improve rents. Connell sold the Property during the 4th Qtr 2014, resulting in an IRR of nearly 15% over the four year period.