SAN ANTONIO—Bethesda, Md.-based RailField Realty Partners recently completed the acquisition of Signature Ridge Apartments, a 612-unit class A apartment complex in San Antonio.

“The Signature Ridge acquisition is very consistent with our strategy of buying well-located assets in stable markets,” Jon Siegel, parter with RailField, told GlobeSt.com. “We like the fundamentals of San Antonio, and the property's location at the Medical Center provides a strong base of jobs. We believe that there is significant upside with the asset to position it to be competitive with the newer product in the market at an attractive price point.”

The property was built between 2000 and 2003. RailField, founded in late 2013, plans to invest significant funds to enhance the asset, including upgrading both amenities and unit interiors.

"We like San Antonio with its favorable demographics and stable economy," Ken Bacon, the former head of Fannie Mae's multifamily division and one of the founding partners of RailField says, adding that Signature Ridge will be the second property the real estate firm has in the city. Last year, it acquired Legends at Kitty Hawk, a 288-unit multifamily community.

The property will be managed by CRES Management, headquartered in Kansas City, Missouri.

Instant Insights /

RailField Buys 612-Unit San Antonio Asset

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