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Distressed Apt. Portfolio Trades for $7M

TALLAHASSEE, FL-Aspen Square Management snapped up the two-property portfolio in an all-cash transaction.

By Jennifer LeClaire | Updated on April 07, 2011

TALLAHASSEE, FL-A two-property, 505-unit apartment portfolio traded for $6.7 million. Aspen Square Management snapped up the properties in an all-cash transaction.

Multifamily investment brokers John Stone and Jason Stanton of Colliers International Tampa Bay, along with investment brokers W. Hayes Swann and Huston Green of Colliers International Atlanta, worked on behalf of the sellers. Palms of Magnolia’s seller was Worthington Apartments, LP and Palms of Apalachee’s seller was Las Palmas Apartments, LP, both Georgia companies.

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