Archon Residential Inc. of Irving, TX, a five-year-old, wholly owned subsidiary of New York-based Goldman Sachs Group, is the seller. Houston's 660-unit Aberdeen Apartments, built in 1977, is the largest asset.
CBRE's Malcolm McComb and Kevin Geiger may sell the portfolio as one entire unit or divide the properties into regional pools, the brokerage says in a prepared statement.
In Georgia, the properties comprise Hunter's Bay, 601 units, Forest Park, GA, built 1969; Chelsea Park, 376 units, Norcross, GA, built 1986; and Gentry's Walk, 227 units, Atlanta, built 1990.
The other Southeast properties are in Florida, Kentucky and Tennessee. In Florida, the properties are Bay Reach Apartments, 220 units, Lake Park, FL, built 1989; Cedar Trace, 176 units, Tampa, built 1984; and Palisades, 133 units, Brandon, built 1980.
In Louisville, KY, the 444-unit Cypress Pointe, built in 1986, is on the block. And in Memphis, TN, the 580-unit Kensington Manor, built 1971, is part of the sale package. Texas has the largest amount of properties--nine assets totaling 3,312 units.
CB Richard Ellis didn't disclose the current occupancies of the properties or its contracted commission fee on the deal.
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