The $40.4 million transaction with Atlanta-based Post Properties Inc. equates to $59,763 per unit. Post netted $18.9 million.
In a prepared statement, Post did not break out the price for the 508-unit, four-year-old Post Fountains at Lee Vista, 5743 Bent Pine Drive, Orlando or the 168-unit Post Ascension apartments built in two phases in 1985 and 1995 in Arlington, TX.
On the Post Fountains acquisition, Krupp paid an estimated $20 million or about $39,370 per unit, area multifamily brokers tell GlobeSt.com.
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