BOSTON, MA - Winthrop Realty Trust announced that it has acquired for a purchase price of approximately $21.475 million a 320 unit, class A, multifamily property, situated on 27.9 acres in the Germantown/Collierville submarket of Memphis, Tennessee and commonly referred to as Waterford Place. The property which had been foreclosed on by the mortgage lender in May 2011 was constructed in 2011 and is currently 87% occupied.
Waterford Place is a luxury community offering exceptional resident services and activities. Each home features 9 ft ceiling and beautiful crown molding. Enjoy our two sparkling pools, tennis court and challenging fitness center. Most units have a direct access garage. Roman style tubs are in many homes. Select apartments have fireplaces or entertainment centers.
Winthrop Realty Trust (NYSE:FUR) is a real estate investment trust ("REIT") engaged in the business of owning and operating real property and real estate related assets through our ownership of assets, loans secured by real property and equity and debt securities of other publicly traded and privately owned real estate companies. Winthrop Realty Trust, its Board of Trustees and management team is well positioned to provide returns through a wide range of ownership structures.
Source: Winthrop Realty / #Apartments #Multifamily