HOUSTON-A three-property, 1,038-unit portfolio has been broughtto market by TriTex Real Estate Advisors II Inc.,an arm of TriMont Real Estate Advisors of Atlanta.The special servicer has attached an asking price of $20.5 millionto the portfolio, though one-off offers are certainly welcome.

Transwestern’s Ed Cumminstells GlobeSt.com that the 1980s complexes are being offered as asingle portfolio because of their proximity to one another. The244-unit Monticello on Cranbrook; the 520-unit Polo Club onCranbrook and the 274-unit Timbers of Cranbrook are all on EllaBoulevard and are all “within walking distance of each other,” saysCummins, who is partnering with Transwestern colleagueClint Duncan on marketing the class Bportfolio.

Cummins declined to discuss the portfolio’s background, only topoint out that there is significant upside (the occupancy is northof 80% with plenty of room for growth in term of rents andoccupancy) and a value-add component (there is room for curb appealimprovement as well as minor interior upgrades). He adds that thereare few units that are offline.

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