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ABILENE, TX-Following a short-term hold and investing thousands into renovations, US Housing LP of San Antonio has brought a 1,447-unit portfolio to market. The 95%-leased class B collection consists of four complexes in Abilene and two in Lubbock.

Jordan Cortez of Apartment Realty Advisors in Dallas won't disclose the asking price to GlobeSt.com, but did say similar properties have sold for $47,000 to $49,000 per unit. He points out that the complexes proximity to each other in West Texas offers economies of scale.

"The seller is putting these on the market because the management believes there's a large demand for assets in secondary markets like these," Cortez says. "The seller's MO is that they usually buy, renovate, stabilize and sell." The ARA Dallas team includes ARA Michael Girard and Brian O'Boyle.