COLLEGE STATION - The Crossing Place Apartments has been sold to Seattle-based Horizon Realty Advisors LLC. The 384-bed complex at 400 Southwest Pkwy. is located approximately one mile from Texas A&M University’s campus.
The sellers, a joint venture owned by Alex. Brown Realty Inc. (ABR) and Asset Plus Companies (Asset Plus), a Houston-based real estate management firm, partnered to purchase the property at an attractive basis in May 2012 via an off-market transaction. The joint venture subsequently implemented strategic capital improvements, which permitted material increases in rental rates.
The property is currently 100 percent leased for the 2013–2014 school year.
Read more at the Business Wire.
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