WACO - Emerald Creek Capital acquired the 200-unit Lakewood Villas apartments after the bank foreclosed on the property at 1601 Spring St. The company bought the property to recoup the $3.3 million balance on the note. The bank intends to find a buyer for the complex.
The former owner, Austin-based PPA Group, had tried to unload the property in a distress sale for $3 million but found no takers.
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