COLLEGE STATION, TX-After a lengthy pursuit, a local investor finally has achieved his heart’s desire: the 237-unit Polo Club Apartments, a 1970s-era property located a few miles from Texas A&M University.
The buyer acquired the class C property for an undisclosed amount in an off-market transaction arranged by Kelly Witherspoon and Jeff Patterson of ARA’s Secondary Markets team, which is based in Austin. The seller was Sandstone Investments, a San Diego-based investor with whom the team had an existing relationship.
Witherspoon tells GlobeSt. that Sandstone Investments wasn’t really looking to offload the property because it had performed well over the years, but would consider selling if the price was right.
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