(Read more on the multifamily market.)
SAN ANTONIO-Drawing the curtain on a three-year plan to exitTexas, Metra United is bringing the last four complexes from a10-property portfolio to market. The 1,082 units have hit thestreets as a value-add class B portfolio, tagged for sale at justshy of $57.3 million.
Metra United, a partnership between the Alon Group of Israel anda Boca Raton, FL-based partner, plans to focus on its Manhattanoffice and retail properties after it cuts all multifamilyproperties loose from its fold. "They were out-of-town owners andtheir background is that of owning triple-net properties that don'trequire active management on their part," explains Don Ostroff,senior managing director with Cushman & Wakefield of TexasInc.
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