April 10, 2018
KBS Legacy Partners Apartment REIT, Inc. divested 11 multifamily communities totaling 3,039 units located in core markets in Minnesota, Illinois, Missouri, Texas, Maryland, North Carolina and South Carolina for $480.65 million. The properties were purchased in separate transactions by eight different buyers.
HFF’s Matthew Lawton, along with licensed local HFF teams in the respective markets, handled the offering on behalf of the REIT that is sponsored by KBS Capital Advisors LLC and affiliates of Legacy Partners Residential Realty LLC.
The properties include:
– Watertower Apartments in Eden Prairie, MN (pictured above)
– Legacy at Poplar Creek in Schaumburg, IL
– Legacy at Martin’s Point in Lombard, IL
– Legacy Grand at Concord in Concord, NC
– Wesley Village in Charlotte, NC
– Crescent Park in Greer, SC
– Millennium Apartment Homes in Greenville, SC
Four additional properties sold in separate transactions to a single investor: Crystal Park at Waterford in Frederick, MD; Residences at Waterstone in Pikesville, MD; Lofts at the Highlands in St. Louis, MO; and Legacy at Valley Ranch in Irving, TX. The HFF team procured acquisition financing on behalf of the new owners for six of the properties.
For comments, questions or concerns, please contact Dennis Kaiser