The properties at 101 Hidden Oaks Dr. and 100 Appledown Dr. total 788 units which average roughly 900 square feet. From largest to smallest, which are single to three-bedroom units at the Hidden Oaks, range from $595 per month rent to $820 per month, according to apartmentguide.com.
The purchase was made with 10-7ear financing from Freddie Mac at 5.78%. Starwood and Somerset have planned renovations and amenities for the project and were advicsed in the transaction from Brush Island Capital, LLC and CW Capital, which helped arrange the financing.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
