Canadian leaves fall on 408 Arlington unitsCanadian leaves fall on 408 Arlington unitshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=93482012-10-11T08:39:00Z2012-10-11T00:00:00Z

ARLINGTON - Two apartment communities, Sunset Point and Springmist, near I-30 have been sold for an aggregate price of $24.57 million. The purchaser is Vancouver-based Pure Multi-Family REIT.

The 240-unit Sunset Point, at 2015 Randy Snow Rd., includes 172,736 sf of rentable space in 19 two-story buildings on ten acres. The community has one- to three-bedroom units with rents ranging from $590 to $870 for 518 to 950 sf. It is 96 percent occupied and was purchased for $14.23 million.

The 168-unit Springmist, at 2004 Randy Snow Rd., includes 134,688 sf of rentable space, in 17 two-story buildings on seven acres. The property is 96 percent occupied and was purchased for $10.34 million.

Source: Pure Multi-family REIT LP

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/commercial-real-estate/headlines/20121009-canadian-investor-buys-arlington-apartment-communities.eceRead more at {Source}

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