Sunday, December 23, 2007

DEAL OF THE DAY: 286-Unit Texas Apartment Building Sold

Pearland, Texas--Hendricks & Partners, headquartered in Phoenix, has announced the sale of the 286-unit Whispering Winds apartments in Pearland, Texas for an undisclosed amount.

East Lansing, Mich.-based TR Associates of Whispering Winds, LP sold the complex to Whispering Apartments, LLC of Los Angeles.

Jim Hearn, Ed Cummins and Ryan Terrell of the Houston office of Hendricks & Partners and Tom Warren and Christopher Thomson of the Dallas office negotiated the transaction on behalf of the seller.

Constructed in 1986, Whispering Winds consists of one-, two- and three-bedroom units that average 900 square feet.

Apartments feature washer/dryer connections, ceiling fans, private patios and walk-in closets. Select units contain fireplaces.

The complex's amenities include two swimming pools, a tennis court and a children’s playground.

source: commercialpropertynews.com

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