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Asset Plus Partners with J.P. Morgan for REO MF Buy

KINGWOOD, TX-The JV acquires Harbor View Apartments, a newly-completed Class A property, from construction lender Capital One.

By Jennifer Duell Popovec | Updated on June 24, 2010

KINGWOOD, TX-A joint venture between Houston-based Asset Plus Cos. and institutional investors advised by J.P. Morgan Asset Management has acquired Harbor View Apartments out of foreclosure.

The JV is the first time the two companies have partnered, says Jeff Knowles, senior vice president with Asset Plus Cos., a local firm that third-party manages roughly 35,000 apartment and student housing units. “We like that J.P. Morgan has access to multiple capital sources,” he notes. “This is a one-off deal, but the intent is that we will do more deals together.”

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