Blackstone sells 1,408-unit apartment portfolio

​​SAN ANTONIO – ​​The Blackstone Group is selling a five-property, 1,408-unit apartment portfolio in San Antonio and Tyler to Bluerock Residential Growth REIT for $188.85 million.

The deal closes early next month. 

The portfolio includes the:

• 335-unit Canyon Springs at 24345 Wilderness Oak. in San Antonio’s Stone Oaks submarket;
• 139-unit Cibolo Canyon, also in Stone Oaks at 5505 TPC Pkwy.;
• Crown Ridge, a 353-unit property at 18385 Babcock Rd. in San Antonio​; and 
• Orion at the Cascades, which consists of two properties. Cascades I is a 328-unit community at 4055 Hogan Dr. in Tyler. Cascades​ II consists of 254 units at 4085 Hogan Dr.