The buyer, Potloc, has paid $6.8 million for the complex, known as Jade Gardens. The property is located at 109 S. Almansor St.
Potloc was represented by Seth Polen of Marcus & Millichap. The seller, Jade Gardens LLC, was represented by Greg Harris, also of Marcus & Millichap.
Investors continue to favor multifamily, as the county's increasing population and lack of buildable land has caused occupancy levels to skyrocket. Even a slowdown in the economy has done little to affect the strong demand for multifamily product. In fact, a shaky economy often causes investors to look to apartments as compared to other asset types, say many real estate experts. Investors tend to favor multifamily product during uncertain economic times because they have a more dependable nature.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
