Highland Pointe Apartments LLC paid Highland Pointe Ltd. $43,394 per unit, or $51.45 per sf for the property, which was built in two phases between 1985 and 1987. The building comprises 124 one-bedroom, one-bath units; 132 two-bedroom, two-bath units; and 16 three-bedroom, two-bath units.
The average living area space in each unit is 854 sf. Average base rents are $673 per month. Brothers Gerald A. Smith and Mark D. Smith handled the transaction.
In last week's closing, Smith Equities brokered the $5-million sale of the 13-year-old, 104-unit Belle Rive Club Apartments in Jacksonville, FL, as GlobeSt.com previously reported.
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.
