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| 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;
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| 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 | www.hfflp.com
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