crefeed.com | Hendricks & Partners sells two multi-families for $11.65M

5/12/2008

Hendricks & Partners sells two multi-families for $11.65M

Riverstone Apartments

Hendricks & Partners has completed two multi-family sales in California and Oregon for a total sales price of $11.65 million.

In El Monte, 6604 Springpark Partners, LLC sold the Riverstone Apartments for $6.85 million to Arcadia-based David F. Freeman/Assignee. The deal was brokered by Kevin Hurley and Kevin Lutz of Hendricks & Partners' Pasadena office.

The Riverstone Apartments, located at 3939 Maxson Rd., contain 45 units that have been fully renovated. The property sold with a 6.35 percent capitalization rate.

In Troutdale, Ore., B3R Properties, LLC purchased the Hampton Heights Apartments for $4.8 million from Hampton Heights, LLC. The buyer was represented by Grayson Pounder of Hendricks & Partners' Portland office. Hampton Heights is a 64-unit apartment complex that is located at 496-628 257th Ave.

Address: Riverstone Apartments at 3939 Maxson Rd., El Monte, Calif.
- Hampton Heights at 496-628 SW 257th Ave., Troutdale, Ore.

Size: 109 units

Filed Under: Multi-Family

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