(Read more on the multifamily market.)
BRYAN, TX-A Newton, MA-based buyer has entered the market withthe acquisition of 547 units. While comparable class C units in thearea have traded in the low $30,000 per door, Commercial CapitalPartners LLC has obtained the two complexes for a considerablylower price in an off-market deal.
Jeff Patterson, vice president with Apartment Realty Advisors'Secondary Markets Team, says the Houston-based WWK Ltd. bought theassets in 1998 and wanted to sell them as one, opting not to listthem to simplify the process. The just-sold assets are the 248-unitWillowind Apartments at 2301 Broadmoor Dr. and 299-unit Willow OaksApartments at 3902 E. 29th St.
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