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Plano's sweet Preserve(s) for $41MPlano's sweet Preserve(s) for $41Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=29482014-09-26T07:43:00Z2014-09-26T08:15:00Z

PLANO - The Preserve at Arbor Hills (The Preserve), a 330-unit apartment complex located at 7001 West Parker Rd., has been sold for $41 million.

The Preserve’s 330 units range in size from 692 to 1,415 sf, with 310,072 sf of rentable area in four two-story and 13 three-story stucco buildings. The complexes one-, two- and three-bedroom floor plans range in rent from $905 to $1,785.

The 15-acre property, which was built in 1998, was 97 percent leased at the time of sale. The Preserve overlooks the Arbor Hills Nature Preserve, a 200-acre park featuring vast areas for walking, jogging, hiking, and other outdoor activities.

The Preserve was purchased by Canada-based Pure Mutli-Family REIT from a subsidiary of Sunstone U.S. Opportunity Realty Trust.

Online news
Dallas-Fort Worth-Arlington
Multifamily
http://www.puremultifamily.com/news-releases/pure-multi-family-reit-lp-announces-closing-two-previously-announced-acquisitionsRead more at {Source}

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