Sold! 520,000-SF Residences at Cinco Ranch in RichmondSold! 520,000-SF Residences at Cinco Ranch in Richmondhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=35312014-07-24T11:30:00Z2014-07-24T08:10:00Z

RICHMOND - The 300-unit Residences at Cinco Ranch have been sold. The 519,627-sf apartment community consists of one-, two- and three-bedroom units in 13 buildings. The complex was built in 2008.

Apartment features include a central clubhouse, 24-hour athletic club, remote controlled entry access, business and conference center, coffee bar and pool with cabana.

The Michelson Organization sold the property to Starlight Investments' U.S. Multifamily No. 3 Core Fund (The Fund). The Fund secured a first mortgage loan of $23.9 million.

Alliance Residential Co. will manage the complex.

CoStar Group
Houston-The Woodlands-Sugar Land
http://www.costar.com/News/Article/The-Michelson-Organization-Sells-Apt-Complex-in-Richmond/162432Read more at {Source}

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