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GlobeSt.com UPDATE: Closings Eyed for $317M Portfolio

PHOENIX-Hall Financial Group says the deals should start to close in 90 to 120 days on a number of the 49 properties on the market. Hall isn't exiting the multifamily business, but it is collecting cash for an asset reallocation to a mezzanine and gap financing pool.

By Beverly Ford | Updated on December 27, 2002

PHOENIX-Hall Financial Group president Donald Braun has told GlobeSt.com that he expects to have several of his firm’s large apartment complexes sold within the next 90 to 120 days as the investment group moves to reallocate assets.

A number of the properties in the firm’s portfolio, 49 of which were placed on the market about two months ago, are presently awaiting signed contracts, Braun said. He would not specify which properties are close to sale, however. “None of the transactions have closed yet but we are getting close to it,” he said. “We’re presently in the process of putting a number of those properties under contract.”

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