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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.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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