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Houston Buyer's $9M Secures 204 Units

EULESS, TX-CNC Investments outdoes 20 others to get the Hunt Club, a class B property with a 92% occupancy. Sold by Aimco, the 20-year-old complex has monthly rents averaging $674 and units averaging 864 sf.

By Lee Simmons | Updated on December 18, 2003

EULESS, TX-CNC Investments of Houston has paid $9.2 million for the 204-unit Hunt Club to beat out 20 others vying for the class B asset in northeast Tarrant County.

The 92%-leased complex at 1001 fuller Wiser Rd. in the Bear Creek section of Euless was on the market two months. Dirk Goris of CB Richard Ellis Inc.’s Dallas office and Sean Cunningham, Tyler Anderson and Jack Hannum, all with CBRE in Phoenix, represented CNC and the seller, Apartment Investment and Management Co. (Aimco) of Denver, in the deal.

“Aimco sells some of their assets each year. That one was on the list,” Goris tells GlobeSt.com. “It was performing and was well located.” New financing was arranged as part of the deal although he says he isn’t aware of the loan details.

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