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| Craig Hey |
BIRMINGHAM, AL — Multi Housing Advisors (MHA) has arranged
the sale of two apartment communities, Colony
Park and The Grande, located in
Pearl, Mississippi.
Jimmy Adams and Craig Hey of MHA’s Birmingham office represented The Park
Companies, the seller, in the transaction. Maxus Realty Trust purchased the
property.
“Maxus Realty Trust was
able to acquire two performing properties in a tightening market with strong
upside,” Adams said. “High barriers to entry will continue to propel Colony
Park and The Grande’s performance upward and provide opportunity for unit
upgrades and increased income.”
The two properties,
consisting of 280 units, closed simultaneously. Built in 1999 and 2004, they
represent two newer, high quality assets in the City of Pearl.
Maxus Realty Trust has
combined the operations of the two properties, renaming the project The Grand
at Pearl Apartments. Additional information can be found at www.RentGrandAtPearl.com.
For a complete copy of the company’s news release,
please contact:
Deborah Rogers
Multi Housing Advisors
404.645.7275
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