News
TRANSWESTERN SELLS SOME, GETS MORE
March 28, 2011
| Roswell Creek, a nearly 500-unit apartment complex off of Holcomb Bridge Rd is on the blocks. | |
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| Transwestern has just picked up the marketing for the complex. (They can almost get away with saying it has a white picket fence.) The property is 95% leased. According to Databank, the loan on the property has been assigned to Prudential in Dallas, Texas. | |
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| This is the latest apartment property being tested in this hot multifamily investment market by Transwestern's Jon Kleinberg andMike McGaughy. Jon tells us the property will be brought to the investment market in April. It's also the latest in multifamily properties that the duo is marketing. Remember that massive 11-property protfolio Transwestern was marketing on behalf of CIII last year? Jon tells us it's under contract to multiple buyers. | |
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| Part of that multi-state portfolio has 1,531 units in Atlanta at four properties, including Steeple Chase Apartments in Norcross, that areunder contract to a single entity, Jon says (though he's not telling us who that is yet). Transwestern had strong interest, with more than 50 tours and 30 qualified bids submitted, he says. Others in the Atlanta portfolio include Summerset Apartments in Tucker, LaCota Apartments and Sinclair Apartments in Norcross, and Alden Ridge Apartments in Clarkston. |
