(Read more on the multifamily market.)
FORT WORTH-Now that the dust has settled on the deal, word isout that JMG Realty Inc. of Atlanta has bought the 210-unit Depotat the edge of the Downtown. The deal stipulates that the95%-leased asset, bought for $24.67 million, remains as arental.
JMG made the close with a $20.56-million, five-year loan fromCharlotte, NC-based Wachovia Securities LLC in a package arrangedby Holliday Fenoglio Fowler LP managing director Susan Hill inHouston. The borrower did an 80% loan to value to take the deedfrom Cotton Depot Associates LP, which has Dallas-based CarletonRealty Advisors Inc. as its general partner. Affiliate CarletonResidential Properties completed work on the 5.7-acre asset lastyear; Lincoln Property Co. in Dallas oversaw it until the sale.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
