HOUSTON, TX - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, announces the sale of the 252-unit, garden-style, Willow Ridge apartment community located in Houston, TX.
ARA Houston-based Principal, David Wylie, along with Vice Presidents, Russell Jones, Matt Saunders, and Zach Springer represented the un-named seller in the transaction.
Constructed in 1979, Willow Ridge was 94% occupied at the time of sale.
The community was acquired by Houston, TX-based SBA Management, a private value-add buyer.
According to ARA’s David Wylie, “Willow Ridge is a typical distressed asset in a good location that needed a buyer with vision and patient capital to withstand the turnaround process. With nine brokers in Houston that cover the market from class D to class A+, ARA’s relationships uncovered the right buyer and the right lender and created a successful transaction.”
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Yvonne Sarmiento, at sarmiento@ARAusa.com or 713.599.1800.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.4 billion in real estate transactions since 2004. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com