MEMPHIS-Torrance, California-based Arenda Capital Management LLChas expanded its Memphis area multifamily portfolio. The company,functioning as Trinity 464 LLC, has acquired Grove at TrinityPointe, a 464-unit apartment complex in Cordova, for $25.5million.
Arenda Capital Management paid $54,956 per unit for the gatedapartment community located at 555 Wood Arbor Pkwy. The390,515-square-foot complex, constructed in 1986, sits on 32.1acres of land. It includes a hot tub, racquetball court, volleyballcourt, tennis court and two swimming pools. For the full story,go to Memphis Business Journal .
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