11/21/2008

Hendricks & Partners sells Beaumont apartments

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Plymouth, Minn.-based Beaumont Leased Housing Associates has purchased the Park Shadows apartments in Beaumont, Texas for an undisclosed price from Park Shadows Apartments, Ltd.

Kevin McCarthy and Jeff Eisenhardt of Hendricks & Partners brokered the deal for the seller.

Park Shadows is located at 1075 Pinchback Road and contains 150 units. It is a Project-based Section 8 apartment community that was financed with Section 42 Low-Income Housing Tax Credit equity and tax-exempt bond financing.

The buyer plans to renovate the property as part of its three-property portfolio. The portfolio represents the buyer's entrance into the Texas marketplace.

Address: 1075 Pinchback Rd., Beaumont, Texas

Size: 150 units

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Filed Under: Multi-Family

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