PLANO, TX - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing on the multihousing industry, is pleased to announce the sale of Heritage at Lakeside to Los Angeles, CA-based JRK Property Holdings. The Dallas-based ARA brokerage team of Brian O’Boyle, Jr., Brian O’Boyle, Sr., and Brian Murphy led the exclusive marketing efforts for the property, which traded at an undisclosed price, on behalf of the undisclosed seller.
The property, which was built in 2001, is located in close proximity to thousands of companies, including 70 corporate headquarters. The property boasts a low density, park-like feel and residents are treated to the most competitive unit and community amenities in the market; however, one of the features that really set this asset apart from the competition is the unbelievably spacious, family-friendly average unit size of 1,582 square feet, a characteristic that did not go unnoticed by potential investors. During the marketing phase of this property, ARA brokers gave almost 50 tours.
“The Legacy Business Park location and unique unit mix attracted numerous buyers looking to place capital with a value-add opportunity,” stated O’Boyle, Jr. “The strong property performance and outstanding demographics attracted potential buyers from private, high net worth individuals to institutional investors seeking infill suburban product.”
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, Brian O’Boyle, Jr. at bj.oboyle@ARAusa.com or Robyn Randall at rrandall@arausa.com or 972.934.3400.
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 resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com