March 9, 2017
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Midland Visions 2000 sold the 204-unit, 16-building Ranchland Apartments in Midland, TX. Scott LaMontagne, Moses Siller and Zar Haro with JLL’s Capital Markets represented the locally based seller. KNAARS Ventures LLC purchased the complex at 1212 E. Wadley Way for an undisclosed price.
Situated on 6.8 acres, the 1980s-built Ranchland Apartments represented a value-add play for the buyer. Amenities include a pool, clubhouse and multiple courtyards. Midland County assessed the property at $14.8 million.
“Midland continues to grow as an attractive place for top firms and talent,” Haro said. “Its prime location within the Permian Basin is drawing top oil and gas producers, and prompting further growth within the region.”
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