VyStar Credit Union approached the ownership about its interest in the building at 76 S. Laura St. earlier this year and a purchase and sale agreement was signed within three weeks of the initial meeting between the buyer and seller.
The company has disclosed its multifamily investment activity for 2021, which includes scaling its Sunbelt portfolio.
A Transwestern official tells Globest.com that the bidding for the property was intense with more than 300 confidentiality agreements from both domestic and international investors.
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