MEMPHIS-Torrance, California-based Arenda Capital Management LLC has expanded its Memphis area multifamily portfolio. The company, functioning as Trinity 464 LLC, has acquired Grove at Trinity Pointe, a 464-unit apartment complex in Cordova, for $25.5 million.
Arenda Capital Management paid $54,956 per unit for the gated apartment community located at 555 Wood Arbor Pkwy. The 390,515-square-foot complex, constructed in 1986, sits on 32.1 acres of land. It includes a hot tub, racquetball court, volleyball court, tennis court and two swimming pools. For the full story, go to Memphis Business Journal .
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