(Read more on the multifamily market.)
COLLEGE STATION, TX-Five months after acquiring the 158-unitCourtyard Apartments, Aspen Square Management Inc. has closed onits next-door neighbor, the 408-unit Briarwood Apartments. Bothassets were bought from Newport Beach, CA-based BriarwoodTrust.
Although the prices were kept quiet due to confidentialityagreements, similar complexes in the area are trading for $30,000to $35,000 per unit. The West Springfield, MA-based Aspen Squareowns more than 1,300 units in the College Station MSA with thepurchase of the 9.52-acre Briarwood Apartments at 1201 Harvey Rd.The acquisition of Courtyard Apartments at 600 University OaksBlvd. was completed last September.
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