164 Units Sold in Southeast Texas

Parkdale Pindo LP sold its Pindo Pointe, a 164-unit apartment complex at 7390 Pindo Circle in Beaumont, TX. Winslow Asset Management LLC acquired the building for an undisclosed price. The property was assessed at just over $5 million.

Ed Cummins and Ryan Mendez with Transwestern represented the seller in the transaction. Jan Sparks and Michael Snodgrass, also with Transwestern, arranged the financing.

“This asset was fully renovated, stabilized and purchased for cash flow by a first-time buyer,” Cummins said, adding that the property didn’t sustain damage from Hurricane Harvey. “It is positioned to perform well over the near- and long-term,” Cummins added. The seller had acquired the asset in 2012.

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