Post's five-year-loan with an undisclosed lender carries a 4.28% annual interest rate and matures March 10, 2008. The apartment complex is owned by Post Peachtree LLC which is a joint venture between an undisclosed institutional investor and Post Apartment Homes LP.
In Texas, Post sold the two-year-old, 239-unit Post West Avenue Lofts to Gables Residential of Boca Raton, FL. The property has 7,400 sf of street-level retail.
Cypress Realty Inc., an Austin-based investor, bought the adjacent two-acre parcel at 801 W. 5th St. Post didn't disclose the individual prices of the Texas properties but said in a prepared statement the combined price was $34 million.
Continue Reading for Free
Register and gain access to:
- 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
© 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.
