COLDWELL BANKER COMMERCIAL CAPITAL ADVISORS FACILITATES SALE OF 100-UNIT APARTMENT COMPLEX IN LUBBOCK
LUBBOCK, TEXAS (Dec. 29, 2022) – Coldwell Banker Commercial Capital Advisors is pleased to announce that it represented ownership in the recent sale of the San Remy Apartments, a 100-unit complex in Lubbock.
San Remy Apartments, located at 3001 S. Loop 289, consists of five two-story buildings that were constructed in 1973. The apartments were at 96% occupancy at the time of sale. Positioned on 3.5 acres, this listing was marketed as a value-add property.
Chase Tucker, CCIM and Taylor Tucker, CCIM represented the seller, San Remy Holdings, LLC. The buyer was a private investment group.
“San Remy offered an amazing opportunity for a buyer to assume the attractive loan in place. The property had been well-cared-for by the previous owner and boasted a consistent 95%+ occupancy annually amidst rising rents. With the loan assumption terms, the stability of the asset, and the opportunity of raising rents further with low capital injection, we were able to achieve a premium sale price for our client. This was truly a win-win for all parties involved, and I’m excited to see where the new owners take it!” said Chase Tucker.
About Coldwell Banker Commercial Affiliates
Coldwell Banker Commercial Capital Advisors, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.
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