Bostonian Investment Group, formerly the Lindahl Group, paidabout $35,000 per door or nearly $7.9 million to BH Equities Inc.of Des Moines for the class B-minus Tiffany Square at 6209 W.Interstate 40. "It's tired. It's old. It's worn down," says JustinMeszaros, CEO of Bostonian Investment.
Meszaros says about $250,000 is earmarked to paint, repair thewood and complete minor modifications to unit interiors. "This hasa good, diversified renters' base and the rents are $50 to $60below current market rents," he tells GlobeSt.com.
The 95%-leased Tiffany Square has one-, two- and three-bedroomapartments, ranging from 740 sf to 1,400 sf. The rents are $505 to$789 per month.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
