(Read more on the multifamily market.)
EL PASO-A West Coast buyer and its East Coast equity partnerhave completed the second leg of a two-part closing to acquire a1,418-unit portfolio from partnerships controlled by Hunt BuildingCo. Ltd. The 20-asset portfolio has changed hands for $96 million,including tax-exempt bond financing.
The buyers are Reliant Group of San Francisco and CenterlineCapital Group of New York City. Peter Nichol, senior vice presidentwith Centerline's Affordable Housing Group, tells GlobeSt.com thatthe closing was completed in two parts due to tax bond issuances inNew Mexico and Texas. The first transaction involved sevencomplexes in New Mexico and the latest one added 13 properties inTexas.
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