Sunday , 28 May 2017
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Multi-Family Wrap

HOUSTON – Post Investment Group has purchased the 700-unit Palms on Westheimer apartment project at 6425 Westheimer. Maury Bronstein and David Malev of Situs Asset Solutions represented  New York-based Petra Capital Management in the sale.  The project covers 18 acres at the intersection of Westheimer and Briarhurst Drive.

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SAN ANTONIO – Leon Capital Group has purchased the 264-unit Vantage at Prue Road project in San Antonio. The Dallas-based company will rebrand the project with its Hillstone name. Leon Capital purchased another San Antonio multi-family asset in June. Will Tolliver is head of acquisitions for the firm.

San Antonio’s apartment market has been attracting interest from institutional investors, according to Stacy Hunt of Greystar, one of the largest multi-family managers in the nation. Institutional investors had been avoiding that Texas city, but it has been generating job growth and fundamentals that make it attractive.

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TAMPA, Fla. — Blue Rock Partners, LLC, a Florida-based real estate company, purchased the 244-unit Marbrisa Apartments in cooperation with Deerfield Beach-based Konover South LLC and Florida Value Partners.

HFF worked on behalf of Blue Rock Partners to secure a $12.8 million seven-year, fixed-rate loan through Freddie Mac.

Marbrisa Apartments is located at 4949 Marbrisa Drive close to Gunn Highway in northwestern Tampa. The property has one- and two-bedroom floor plans and is 98.6 percent leased.

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