
Republic Funds Sells Corsicana Apartments
Marcus & Millichap closed on the sale of Kenwood Heights, a 51-building, 211-unit apartment property located in Corsicana, TX. Pricing wasn’t disclosed.
Al Silva, senior managing director investments, and Ford Braly, VP investments in Marcus & Millichap’s Fort Worth office, marketed the property on behalf of the seller, Canada-based Republic Funds, which recently sold the Regency Oaks apartment complex in Fort Worth in a deal brokered by Silva and his team. The buyer, a Texas-based limited liability company, was also secured by the Silva Multifamily Team.
During a four-week marketing process, the property attracted 12 offers from a wide range of prospective buyers from all over the U.S. And, despite numerous complications related to COVID-19, the sale closed 65 days after an agreement was reached between buyer and seller.
Kenwood Heights was primarily constructed in the 1980s, with the 25-unit first phase having been built in 1964.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition