Gables Great Hills sold to Greystar Real Estate

Gables Great Hills has been sold by Gables Residential to Greystar Real Estate in South Carolina.

Built in 1993, Gables Great Hills has a unit mix of one and two-bedroom apartments.

Patton Jones, who helped broker the deal, said "Mid-1990s construction is popular with multifamily investors due to the ease at which you can upgrade this property type and seek increased rents."

Gables Great Hills is located at 11266 Taylor Draper Ln. in the Arboretum area.

It will be interesting to see if they can really raise rents in this environment.

Princeton and Stony Creek Apartments Sold

The Princeton apartments and Stony Creek apartments, containing 222 units, were purchased by M3 Multifamily, LLC, a Santa Barbara, Calif.-based company, and sold by San Antonio Alternative Housing Corp. No. 4, a Texas non-profit organization.

The Princeton apartments were built in 1963 and remodeled in 2007. They contain 90 units and are located at 4411 Airport Blvd. The Stony Creek apartments contain 132 units and are located at 4911 Manchaca Road.

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