416-unit South Texas portfolio trades hands

​​​​EDINBURG, BROWNSVILLE – Dallas-based RightQuest, in partnership with JTMR LLC and JJR Group Ltd., has sold a 416-unit luxury apartment portfolio in South Texas. 

One of the properties was Royal Vista Apartments, 144-unit, 110,700-sf community built in 2018 at 5348 S. Sugar Rd. in Edinburg.

Bella Vista Apartments at 4305 E. Ruben Torres Blvd. in Brownsville was also sold. Phase one of the community was built in 2014 and totals 128 units and ​103,216 sf. The 144-unit, 113,544-sf phase two was built in 2017.

IBC Bank provided construction financing. BBG Inc. provided the market feasibility and demand analyses.

Institutional Property Advisors represented the sellers. JLL represented the buyer.