FORT WORTH (globest.com) – Local investor Paul Carpenter has repurchased the Courtyard on Calmont, an empty 50-unit apartment complex on roughly one acre, from Bayview Financial Holdings LP of Miami.
According to Tarrant County tax records, Bayview had foreclosed on the property owner, Multi-Flex Corp. of California.
Carpenter originally paid $600,000. Two years ago, he sold it for $1.2 million. He spent $700,000 to repurchase the apartment complex. About $300,000 of upgrades are estimated.
Carpenter will manage the complex at 6760 Calmont Ave., which consists of one- and two-bedroom units ranging from 600 to 910 sf. Rents had been $525 to $675 per month.
Hendricks & Partners in Dallas assisted in the transaction.
The Real Estate Center is part of the Mays Business School at Texas A&M University in College Station
Friday, December 21, 2007
NOVEMBER APARTMENT DATA
CARROLLTON (ALNsystems.com) – ALN has released apartment market data for large Texas metro areas. For the year ending last month:
Occupancy in Austin apartments increased from 93.6 percent in November 2006 to 93.7 percent in November 2007. Average monthly rent increased from $776 to $831, a 7.1 percent jump.
Occupancy in Dallas apartments increased from 90 to 90.8 percent. Rent increased 5.4 percent, going from $753 to $794.
Occupancy in Fort Worth apartments dropped from 89.9 to 88.8 percent. Rent rose from $667 to $702, a 5.2 percent increase.
Occupancy in Houston apartments decreased from 90.4 to 89.3 percent. Rent increased by 3.1 percent, going from $713 to $735.
Occupancy in San Antonio apartments held steady at 90.6 percent. Rent increased 3.8 percent, going from $679 to $705.
The Real Estate Center is part of the Mays Business School at Texas A&M University in College Station
Occupancy in Austin apartments increased from 93.6 percent in November 2006 to 93.7 percent in November 2007. Average monthly rent increased from $776 to $831, a 7.1 percent jump.
Occupancy in Dallas apartments increased from 90 to 90.8 percent. Rent increased 5.4 percent, going from $753 to $794.
Occupancy in Fort Worth apartments dropped from 89.9 to 88.8 percent. Rent rose from $667 to $702, a 5.2 percent increase.
Occupancy in Houston apartments decreased from 90.4 to 89.3 percent. Rent increased by 3.1 percent, going from $713 to $735.
Occupancy in San Antonio apartments held steady at 90.6 percent. Rent increased 3.8 percent, going from $679 to $705.
The Real Estate Center is part of the Mays Business School at Texas A&M University in College Station
Tuesday, December 11, 2007
PRIVATE INVESTOR SADDLES UP
(Austin Business Journal) – A private California investor has purchased the Class-A Saddle Creek apartments from Chicago-based Orix Real Estate Capital.The 17-building, 224-unit apartment community at 10801 Old Manchaca Rd. was completed in 2001.Valued at $16.9 million according to the Travis Central Appraisal District, the complex is 95 percent occupied.Apartment Realty Advisors represented Orix.
RECON-The Real Estate Center is part of the Mays Business School at Texas A&M University in College Station
RECON-The Real Estate Center is part of the Mays Business School at Texas A&M University in College Station
Subscribe to:
Posts (Atom)
