The property was an investment for Dupre. He had owned it for a while and was ready to move on to a new investment, says Gary Tasman of Grubb & Ellis|VIP, who represented both PMA Equities and Dupre in the transaction.
PMA Equities also bought the complex for investment purposes. The company plans to upgrade and improve the property, making mostly cosmetic changes, and increase the rents, says Tasman. Lakes Park Apartments, built in 1987, features a clubhouse and a pool.
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