(To read more on the multifamily market, click here.)
HOUSTON-Venterra Realty Management will invest another $1million into the deal acquiring a 536-unit complex from CamdenProperty Trust. Sources say the asset, renamed Wilshire Place, mostlikely brought in the neighborhood of $16 million based on areacomps.
Camden had a plethora of bids, including two fallen-outcontracts before getting the deal signed, sealed and delivered. Theclass B complex at 6000 Hollister is assessed at $14.3 million. "Wewere patient on this one and we were able to get the property at aprice that was fairly attractive," Greg Finch, president of theWebster-based Venterra, tells GlobeSt.com. He says the next move isto redo the 26-year-old buildings' exteriors and refurbish theleasing office.
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