SAN ANTONIO--CBRE Capital Markets' multifamily team has announced the sale of Legacy Heights on behalf of an anonymous seller. Cottonwood Residential of Salt Lake City, Utah, purchased the property for an undisclosed price.

Legacy Heights, located at 1320 Austin Hwy., is a 258,206-square-foot, class A multifamily community. Adjacent to the upscale Alamo Heights neighborhood and near Fort Sam Houston in northeast San Antonio, the property sits on 22.47 acres and is made up of 306 one-, two- and three-bedroom units with nine contemporary floor plans.

“Embrey Partners developed the asset in 2009, and today there is a great opportunity for unit interior upgrades, which will allow it to better compete with new development along Austin Highway,” says Ryan Epstein, executive vice president with CBRE.

Apartment amenities include nine-foot ceilings with crown molding, wood-style flooring, designer carpeting and two-tone painting. Community amenities include a resident clubhouse with game room, fitness center, resort-style swimming pool, picnic area, playground and dog park.

“The community's location, in-place value-add program, favorable demographics, resort-style amenities and custom-home features make Legacy Heights an excellent acquisition with long-term stability and great value appreciation,” says Epstein.

Epstein, Charles Cirar and Michael Wardlaw, with CBRE, represented the seller.