Posted: Oct 3, 2012
Hunt Sells $139 Million in Institutional Apartment Portfolios
PHILADELPHIA, PA – (DRAFT) –Hunt Investment Management, LLC, an affiliate of Hunt Companies, Inc., announced today the sale of $139 million in apartment properties from its institutional portfolios on behalf of various clients. “The dispositions take advantage of the aggressive acquisitions market for multifamily properties and locks in recent value gains from increasing occupancies and rents,” said Ed Oprindick, Executive Vice President of Hunt Investment Management.
After undertaking asset enhancement strategies working with its joint venture partners, Hunt sold majority stakes in the three apartment investments, which were each acquired in 2010. The properties, located in three of the nation’s most attractive, renter demand-driven multifamily markets include:
• Waterstone Santa Clara, a 156-unit complex in Santa Clara, California near San Jose;
• Montebello, a 248-unit property, in Kirkland, Washington, a suburb of Seattle; and
• Axcess 15, a 202-unit complex with 18,000 square feet of retail space, near downtown Portland, OR.
ABOUT HUNT
Hunt Companies, Inc. is a leading national real estate company dedicated to building values through development, investment, and management. Hunt is focused in the core areas of public private partnership, military housing, community development, real asset investment management and multifamily housing.
Hunt is firmly rooted in a legacy of leadership, integrity, and trust. Together, Hunt and its affiliates have more than $13 billion in assets under management, including 144,583 multi-family housing units and 8.3 million square feet of office, retail and industrial properties. Hunt has also developed 89,000 housing units, over 1 million square feet of commercial space and thousands of acres of land. Development project costs have totaled more than $6.3 billion with more than $8.2 billion in construction costs.
Hunt’s SEC registered investment advisor, Hunt Investment Management, has $3.2 billion of assets under management and manages funds and separate accounts across all real estate sectors in the U.S. and Europe.
Visit www.huntcompanies.com to learn more about Hunt, its heritage and commitment to values that build.
