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Multifamily Group Sells 18th Killeen Property
The Multifamily Group (TMG) is no stranger to Killeen Texas. TMG represented the seller of The Springs at 1100, a 232-unit garden-style property. It’s the groups second closing this year, with two pending and 18th since 2017.
Built in 1983, the property was 98% occupied at the time of the sale in a submarket with a rental growth rate of 15.6% year-over-year.
Due to a scarcity of units, TMG’s Jon Krebbs says the area is still in an up-market, ” The Springs at 1100 marks a very stable investment with factors like being a Class-B property built in 1983, in a market with no new unit deliveries in the past 12 months.” Krebbs found the buyer, Vista Pacific Inc. TMG’s Paul Yazbeck represented the seller, Rhodium Capital Advisors.
- ◦Sale/Acquisition
