DALLAS, TX - JRM Advisors announces it has closed the sale of Independence Place in Killeen, Texas for a record-setting price per unit. This is the second closing in Killeen in the last 4 months, and fourth property overall, that JRM Advisors has marketed exclusively on behalf of the seller, Place Properties.
Developed in 2007, the complex sits on 21.95 acres in one of Texas’ fastest growing cities and is conveniently located near Fort Hood, Metroplex Hospital, Central Texas College, and numerous national retailers.
The 240-unit community offers modern living and flexible accommodations including 1, 2, 3, and 4-bedroom floor plans with furnished and corporate units available. The open concept floor plans include faux wood floors, walk-in closets, black appliances, and utility room with washer and dryer connections.
Additionally, the property contains approximately 6 acres of vacant land with optional development plans calling for a total of 120 units, 188 parking spaces, separate clubhouse and amenities.
“With limited upscale options, this property provides a unique opportunity for the buyer to purchase a Class A stabilized asset with the option to increase returns through future renovation and/or development,” stated Fin Erwin of JRM Advisors.
“Investment activity remains highly competitive as local and out-of-state investors continue to seek opportunities throughout the secondary markets of Texas, and we believe in the long-term fundamentals of the Central Texas region moving forward.”
The JRM Advisors team is led by Fin Erwin, principal and managing director.
JRM Advisors is a boutique brokerage firm specializing in the acquisition and disposition of multifamily opportunities throughout Texas and the Southeast. Our carefully selected team of leading professionals has over 35 years of combined experience working on every side of the commercial transaction – as principals, attorneys, lenders, brokers, closers, and title agents – which ensures accountability and allows us to deliver customized real estate investment solutions.