Grayson Ridge sold for $14.3M in North Richland HillsGrayson Ridge sold for $14.3M in North Richland Hillshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=70192013-06-20T15:42:00Z2013-06-20T00:00:00Z

NORTH RICHLAND HILLS - Grayson Ridge, the 240-unit multifamily community built in 1988 at 6901 NE Loop, was purchased for $14.3 million, or about $60,000 per unit, from The Praedium Group LLC.

The 187,236-sf apartment complex offers one- and two-bedroom apartments that were 98 percent occupied at the time of sale. The Praedium Group LLC was the seller. North Richland Hills is adjacent to Fort Worth.

The property was one of three apartment complexes in Texas and Oklahoma bought for $62 million by Steadfast Income REIT Inc. The other two were:

Rosemont Olmos Park, the 144-unit multifamily property built in 1996 at 401 Holland Ave. in San Antonio, Tex., was purchased for $22.05 million from Sendera Investment Group LLC. The 139,000-sf apartment complex offers a mix of one-, two- and three-bedroom apartments.

Quail North, a 240-unit apartment community built in 2012 at 2701 Watermark Blvd. in Oklahoma City, Okla., was purchased for $25.25 million from Watermark Residential.

Read more at CoStar Group.

CoStar Group
Dallas-Fort Worth-Arlington
http://www.costar.com/news/article/steadfast-income-reit-adds-$62m-in-assets/149555Read more at {Source}

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