Wednesday, July 27, 2016

HFF named to market for sale 11-property multi-housing portfolio in core U.S. markets

Matthew Lawton
CHICAGO, IL  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has been named to market for sale an 11-property, 3,039-unit multi-housing portfolio located in several core markets across the United States.

HFF is marketing the offering on behalf of KBS Legacy Partners Apartment REIT, Inc., a public, non-traded real estate investment trust (REIT) sponsored by KBS Capital Advisors LLC (the REIT’s advisor) and affiliates of Legacy Partners Residential Realty LLC. 

The portfolio is being offered on a free and clear basis and may be purchased in its entirety, as a subset of pooled assets or individually.

The portfolio totals more than three million rentable square feet and encompasses garden-style and mid-rise communities with an overall occupancy rate in excess of 95 percent as of May 31, 2016.

 More than half of the assets were constructed between 2002 and 2010 and all have been institutionally maintained and operated since completion.  

The properties in the portfolio are: Watertower Apartments in Eden Prairie, Minnesota; Poplar Creek in Schaumburg, Illinois; Legacy at Martin’s Point in Lombard, Illinois; Lofts at the Highlands in St. Louis, Missouri; Legacy at Valley Ranch in Irving, Texas;

Watertower Apartments, Eden Prairie, MN
Crystal Park at Waterford in Frederick, Maryland; The Residence at Waterstone in Pikesville, Maryland; Legacy Grand at Concord in Concord, North Carolina; Wesley Village in Charlotte, North Carolina; Legacy Crescent Park in Greer, South Carolina; and Millennium Apartment Homes in Greenville, South Carolina.

The HFF investment sales team representing the seller is led by executive managing director Matthew Lawton along with local HFF teams in the respective markets.

“This well-balanced, geographically diverse portfolio presents investors with a unique opportunity to not only acquire institutional high-quality assets in key markets, but, if purchased in its entirety, also presents the opportunity to acquire the REIT vehicle itself in its entirety providing additional flexibility to the potential buyer’s investment platform,” said Lawton.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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