(Read more on the multifamily market.)
HOUSTON-Trimarchi Management and Capri Capital Partners havetopped a long list of bidders for 10 of 13 complexes in aTexasportfolio of Internacional Realty Inc. The joint venturehas paid close to $300 million for 3,041 units.
David Mitchell, a principal for Apartment Realty Advisors inHouston, says three complexes fell out of escrow because theydidn't fit the buyer's criteria. "The three that fell out werehigh-end, newer properties," says Mitchell, who worked with brokersin ARA's Houston, Austin and Dallas offices to market the packagefor the San Antonio-based Internacional Realty.
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