Haley Acquires Six Multifamilies in the South

OMAHA—Although the market for multifamily developments has recently experienced some decline in sales volume and debt financing, the market remains strong and many investors continue to find what they consider good deals. The Haley Real Estate Group, an Omaha-based investment firm, for example, recently acquired six multifamily properties spread across three Southern states. The set includes The Woodlands and Windchase Apartments in Odessa, TX, Vistas at the Venue and Verandas at the Venue in Valley, AL, Three Oaks Apartments in Valdosta, GA, and Wildwood Apartments in Thomasville, GA. The $82.2 million in purchases added nearly 1,400 units to its portfolio and were its first buys in Georgia and Alabama.

“Acquisitions were a priority for our company in 2013 and the trend will continue into the New Year as we expand upon our growth strategy in strategic secondary and tertiary markets,” said Doug Hastings, senior vice president of property management for DEI Communities, the property management affiliate of Haley that will take on day-to-day operations at the six properties. “As part of our overall strategy, we have already initiated a comprehensive renovation plan across all six properties.”