KBS Legacy Partners Apartment REIT Agrees to Lower Sales Price for Wesley Village
February 21, 2017 | by James Sprow | Blue Vault
The sales agreement for the sale of Wesley Village in Charlotte, North Carolina, and an adjacent 3.8 acre parcel of land by KBS Legacy Partners Apartment REIT to Bluerock Real Estate, LLC was amended on February 17, 2017 to reduce the sales price from $57.7 million to $57.2 million and extend the closing date to March 9, 2017 from February 28, 2017.
Wesley Village was purchased by the REIT in November, 2012, for $46.4 million. It had 301 apartment units as of September 30, 2016. As of that date the REIT owned 11 apartment properties with a total of 3,039 units that were 94.4 percent occupied.
Learn more about KBS Capital Markets Group on our Sponsor Focus page.Go Back
The well-attended Blue Vault session at the recent National Planning Holdings National Conference was very well received. The value of their products was evidenced by the volume of questions from the attendees. Stacy Chitty, Managing Partner, did an excellent job of explaining the history, strategy and value of Blue Vault data.