First Venture in Texas: Santa Anita Realty...

First Venture in Texas: Santa Anita Realty Enterprises Inc. said Wednesday that it has purchased a 244-unit apartment complex in San Antonio for $4.7 million. The apartments were in foreclosure, and the Orange-based real estate investment trust bought them from First National Bank in St. Louis for less than what it would cost to build them today, said Glenn Carpenter, president and chief executive of the local company. He said Santa Anita Realty, which owns the Santa Anita race track, also owns the Applewood Apartments in Santa Ana; and complexes in Seattle and Portland, Ore. The company’s purchase of the Thousand Oaks Apartments in San Antonio represents its first venture in Texas.