(Read more on the multifamily market.)
BROOKLYN, OH-The K&D Group Inc. has purchased the 627-unitWestbrook Village apartments from Westbrook Partnership. The buywas a move to start a westward expansion of properties for the newowner, which manages about 29 apartment and condominium propertiesthroughout Greater Cleveland.
Gary Cooper, a director in the Cleveland office of Marcus &Millichap's National Multi Housing Group, says the sale pricecannot be released. He tells GlobeSt.com that the property sold ata 7.5% cap rate and was listed at $24.4 million, "just shy of$39,000 per unit."
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