(Read more on the multifamily market.)
HOUSTON-A San Antonio-based investment group has brought a3,937-unit, 13-property portfolio to market. The portfolio ofHouston, Dallas and San Antonio assets are un-priced, but the classA collection is valued at slightly more than $400 million.
David Mitchell, principal with Apartment Realty Advisors Houstonoffice, the seller has collected the complexes in the past three tofive years through one-off acquisitions. He says InternacionalRealty felt the timing was right for a sale because Texas is atarget state for many investors.
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