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TERRELL, TX-An investor from Seattle beat out about a dozen other offers with a $2.15 million bid to take ownership of a 107-unit class C apartment complex in Terrell in a value added deal that gives the new owner a strong cash flow and a property with 85% occupancy.The sale of Oak Ridge Apartments at 1300 S Adelaide St. to the unidentified buyer came just 30 days after Colorado-based seller Kennedy Terrell Apartments LP, put the property on the market, John Barker at Marcus & Millichap’s Dallas office tells GlobeSt.com.”We had a tremendous amount of interest in the property,” says Barker, noting that at least 12 other prospective buyers placed bids on the nine building property, located Highway 34, between Interstate 20 and Highway 80, in Terrell. Interest in the property was high, he says, because it offered buyers a value added opportunity and a positive cash flow.Barker and Chris Deiullet, also with Marcus & Millichap, represented both parties in the sales transaction.

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