Roland Belanger, senior vice president of Henry S. Miller Commercial, says Dallas-based Residential Healthcare had owned the 98,256 rentable sf property for four years. "It was one of the fastest deals I've ever done," he tells GlobeSt.com about the two-month period from the listing to deal hitting the title company's desk. In all, it had taken six months to close because the buyer had been using a bond financing vehicle, which Belanger says he is not at liberty to disclose. The asking price had been $5.4 million for the 15-year-old property.

The multifamily complex is a class-B property situated on 4.3 acres at 3501 Renzel Blvd. The one-building project had been 89% occupied at sale time. Belanger says the buyer is gearing up for cosmetic changes and new carpeting in the interior, including new furnishings in the building's common areas.

Belanger has acted on the seller's behalf while Dick Hoffmann of Anterra Realty has represented the Dallas-based buyer. Anterra, says Belanger, will be managing the holding for the Maple Avenue EDC. And that, in his opinion, is a plus. "They really know their business," stresses Belanger.

Belanger says the deal marks the closeout of that client's holdings. But, his specialty has him hawking three nursing homes in Arkansas as he searches for a buyer or lessee. The properties are a 105-bed facility in Piggott, 80-bed center in Dumas and 84-bed operation in Junction City.