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Diamond Ridge apartments under new ownership

SAN ANTONIO – New York-based Sapphire Partners has acquired the 304-unit, 263,000-sf Diamond Ridge apartment complex at 5235 Glen Ridge Dr. in the Medical Center.

Sapphire took out a $5.6 million loan from Berkadia Commercial Mortgage LLC, a Berkshire Hathaway and Jefferies Financial Group joint venture. The firm also assumed the seller’s $14.85 million Fannie Mae loan.

The firm owns several other multifamily assets in the area, including Hutchins Palms on the south side, Darby Square to the southwest, and the Abode Apartments in the Medical Center.​


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