CLEAR LAKE - Armand Place, a 244-unit apartment complex at 300 Cyberonics Blvd., has been purchased by Resource Real Estate Opportunity REIT for $11.8 million.
Constructed in 1979, the 20-building complex sits on ten acres. It is currently 93 percent leased.
The buyer plans to make improvements to apartment interiors as well as to common areas and landscaping.
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