(Read more on the multifamily market.)
CARROLLTON, TX-A Boston-based investment group has bested 19other would-be buyers for a class A multifamily asset in NorthDallas. The 284-unit Westbridge Apartment Homes was 95% occupied atsale time.
"They were chosen because of their ability to close quickly andperform quickly," Brian Murphy, a senior broker in the Dallasoffice of Apartment Realty Advisors, tells GlobeSt.com. "It was ashort due diligence and a quick close one week after going firmwith their money." He and ARA managing broker Brian O'Boyle andprincipal Jerry Lamm represented the Hartford-based seller,Cornerstone Real Estate Advisors LLC, of the 2300 Marsh Laneproperty. Murphy says Westbridge sold free and clear for well belowthe $27.9-million ask.
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