MESQUITE, TX — Atlanta-headquartered ARA, the largest privately-held, full-service investment advisoryfirm in the nation focusing exclusively on the multihousing industry is pleased to announce the sale of Trinity Place Apartments, a 267-unit institutional class ‘B’ community located in the Dallas suburb of Mesquite, TX.
“This well-built asset should be a strong investment for years to come, a solid cash flow performer for the Investor,” states ARAInvestment Salesperson Richard Furr, who together with ARA Principals Brian O’Boyle Sr. and Brian Murphy led the exclusive marketing effort for the property.
Built in 1985, Trinity Place is located in an extremely diverse neighborhood: retail opportunities, distribution facilities, single-family residences, business parks, and educational campuses are all within close proximity. The property has been well-maintained and boasts an average unit size of 987 square feet. Trinity Place is also unusual in that each residential building includes an elevator, and all units have fire sprinklers. During marketing, ARA led 25 tours and generated a number of offers. The community was approximately 92% occupied at time of sale.
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 404.990.4900 or Amy Morris at amorris@ARAusa.com, 404.990.4902; locally, Richard Furr atrfurr@ARAusa.comor Robyn Randall at rrandall@ARAusa.comor 972.934.3400.
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visitwww.arausa.com.