Search
 

Hammond Jones Sells 650-Bed Portfolio

AUSTIN-Following a low-key marketing process, the local developer sells Midtown Denton and Midtown Arlington, student housing properties in North Texas, to Shore to Shore Properties of Sausalito, CA.

By Amy Wolff Sorter | Updated on July 15, 2013

AUSTIN-Developer Hammond Jones Real Estate has disposed of the 650-bed Midtown portfolio consisting of Midtown Arlington (which serves the University of Texas at Arlington) and Midtown Denton (near the University of North Texas). Following a low-key marketing period, the local seller selected Sausalito, CA-based Shore to Shore Properties as the buyer.

According to Chris Epp with Apartment Realty Advisors’ National Student Housing team, the seller opted for a limited marketing effort, rather than a full-scale national blast. “They don’t want to be known solely as merchant builders who build then sell,” comments Epp who with ARA colleagues Chris Bancroft, Meredith Wolff and Bart Wickard, represented the seller. “They’re opportunistic sellers; when it makes sense to sell, they come to groups like us and ask if we can talk to the top three or four potential buyers to see if they’re interested.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.