60-Unit Complex Passes to Chicago Investor

KAUFMAN, TX-A Chicago investor, holding deeds to a handful of multifamily assets in the metroplex, has paid $1.6 million or $100,000 less than the ask for another suburban property. The 1031 Exchange play takes over the 60-unit Windtree Apartments in Kaufman County.

Peter Hartnett, senior investment adviser in Dallas for Hendricks & Partners, tells GlobeSt.com that the private investor reinvested exchange capital from a class B multifamily asset for a 96%-occupied, 18-year-old complex at 151 Ebo St. in Kaufman, a county seat with 6,400 residents and 30 miles east of Dallas. The deal closed with a LaSalle Bank loan arranged by James Osgood with Dallas-based BMC Capital LP.