(Read more on the multifamilymarket.)
HALTOM CITY, TX-A private investor from Colorado Springs haspaid close to the $7-million ask for another 346 units in NorthTexas. The value-add buyer's strategy this time is to provide somefully furnished efficiencies to make the utmost of a location nearTarrant County Community College.
“He's really going to get creative,” Al Silva, a broker inMarcus & Millichap Real Estate Investments Services' Fort Worthoffice, tells GlobeSt.com about the acquisition of Desert SandsApartments at 5709 E. Belknap St. Silva says the 21-buildingcomplex was about 50% vacant when the contract went down, but roseto 86% occupancy during the escrow period. With units to fill, someof the 114 efficiencies will be furnished as further incentive,according to Silva.
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