The 11-building complex at 2704 S. Cockrell Hill Rd. had beenunder contract one year ago, but the seller changed his mind,according to Peter J. Hartnett, associate partner in Dallas forPhoenix-based Hendricks & Partners. As the plan gelled toreintroduce it, Hartnett tells GlobeSt.com that he "made one phonecall and sold it before it went back to the market."

The quick-moving buyer was Lagovent Real Estate Group Inc. Theseller is Highland Village Apartments LLC, led by Jason Morash, whois holding a contract to sell the last of 15 properties for athree-year disposition.

Hartnett says the seller spent the past year building in morerevenue to the play for a new owner. The electricity contract wasredone, adding $45,000 to the net operating income, and the laundrylease was renegotiated at an 80% increase plus the seller put in anew chiller system, according to Hartnett. And, there was finalstep to ready it for sale once again. "He raised rents across theboard in lieu of a continuing rise in the utility bill-back system,with very little resistance," he says, adding the asset's incomejumped $55,000 per year.