January 27, 2016 Comments Off on Canadian REIT to Shell Out $117M for Apartment Portfolio Views: 413 California News, Midwest, National News, Southwest, Texas

Canadian REIT to Shell Out $117M for Apartment Portfolio

Pure Multi-Family REIT LP, based in Vancouver, Canada, has reportedly agreed to acquire two apartment properties in San Antonio for a total of $117.5 million. Western Rim Investors of Grand Prairie, TX is the seller of the 760-unit portfolio.

The Mansions at 22800 Bulverde Rd. is a 344-unit property built in 2007. The seller was Western Rim Investors of Grand Prairie, TX. The Towers, at 4092 TPC Pkwy., was constructed in 2014.

The deal is anticipated to close in March. Pure is also conducting due diligence on an apartment property in Austin, TX.

Read More at Real Estate Business Online

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