Metra's Farewell Play Lines Up 1,082 Units

(Read more on the multifamily market.)

SAN ANTONIO-Drawing the curtain on a three-year plan to exit Texas, Metra United is bringing the last four complexes from a 10-property portfolio to market. The 1,082 units have hit the streets as a value-add class B portfolio, tagged for sale at just shy of $57.3 million.

Metra United, a partnership between the Alon Group of Israel and a Boca Raton, FL-based partner, plans to focus on its Manhattan office and retail properties after it cuts all multifamily properties loose from its fold. “They were out-of-town owners and their background is that of owning triple-net properties that don’t require active management on their part,” explains Don Ostroff, senior managing director with Cushman & Wakefield of Texas Inc.