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Saxony Capital Snares 310-Unit Pine Knoll Apartments

Saxony Capital Management acquired Pine Knoll Apartments, a 310-unit, 26-building multifamily property in Longview, TX. The St. Louis, MO buyer shook hands with Dallas seller PNK Associates Ltd. to claim ownership of the property at 2019 Toler Rd.

JLL’s Mark Brandenburg secured acquisition financing through Freddie Mac on behalf of the new owner. “Markets across Texas are delivering significant value-add opportunities,” Brandenburg said. “Statewide economic fundamentals and unprecedented population growth are driving investor demand for multifamily product to an almost fever-pitch. Pine Knoll is well-positioned to yield long-term returns with the planned strategic capital investments from Saxony and their ownership group.”

Pine Knoll has one- and two-bedroom units, measuring 738 to 793 square feet. The property delivered in 1983, and current amenities include a business center, two pools, laundry facilities and a guest apartment.

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Inside The Story

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

  • ◦Financing
  • ◦Sale/Acquisition
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