February 14, 2020
Interurban Cos. ended its four-year hold on Brownstone Uvalde, a 152-unit multifamily property in the South Texas town of Uvalde. The buyer was 3CM Multifamily.
“Brownstone Uvalde offered an opportunity to acquire a Class A asset with low maintenance costs and high value-add potential,” said Berkadia’s Mike Miller. Miller worked with colleagues Will Caruth and Cody Courtney on behalf of the Colorado-headquartered seller. “The discount to replacement was another compelling component that made Brownstone so highly desirable to investors,” Miller added.
Situated on close to seven acres at 2224 E. Main St., Brownstone Uvalde delivered in 2012. The complex has one, two and three-bedroom floor plans. Community amenities include a business center, clubhouse, fitness center, media lounge, swimming pool and dog park.
For comments, questions or concerns, please contact Amy Sorter