Sold! 520,000-SF Residences at Cinco Ranch in Richmond

RICHMOND – The 300-unit Residences at Cinco Ranch have been sold. The 519,627-sf apartment community consists of one-, two- and three-bedroom units in 13 buildings. The complex was built in 2008.

Apartment features include a central clubhouse, 24-hour athletic club, remote controlled entry access, business and conference center, coffee bar and pool with cabana.

The Michelson Organization sold the property to Starlight Investments’ U.S. Multifamily No. 3 Core Fund (The Fund). The Fund secured a first mortgage loan of $23.9 million.

Alliance Residential Co. will manage the complex.