SANTA ANA, Calif., Sept. 8 /PRNewswire/ -- Louis Rogers, President of
Triple Net Properties, LLC, is pleased to announce the acquisition of
Chatham Court/Reflections on behalf of tenant in common investors.
Chatham Court/Reflections is a 494-unit apartment community located in
Dallas, Texas. Dallas is the 9th largest city in the United States and 3rd
largest in Texas. The property is situated on approximately 22 acres of
land and consists of 36 two- and three- story apartment buildings and a
separate building containing a clubhouse, fitness center and leasing
center. The property also includes 70 detached garages and a total of 694
parking spaces. The complex offers tenants a wide range of amenities
including: balconies/patios, ceiling fans, central heat and air
conditioning, two outdoor swimming pools with heated spas, and lighted
tennis courts. The property is located approximately 15 miles north of
Dallas' central business district and has convenient access to the Dallas
North Tollway and State Highway 190 -- George Bush Tollway. Chatham
Court/Reflections is currently 94% occupied.
The property was purchased from Chatham Court Associates, L.P.,
Reflections Associates, L.P. and Das Reflections, LLC which was represented
by Dirk Goris of CBRE Dallas. Michael Frieman of Triple Net Properties and
Gus Remppies and Jay Olander of ROC Realty Advisors represented the tenant
in common buyers. Financing was provided by Wachovia Bank and was arranged
by Chris Troutman.
About Triple Net Properties
Triple Net Properties, LLC offers a diverse line of investment products
as well as a full-range of services including asset and property
management, brokerage, leasing, analysis and consultation. Our investors,
tenants and industry partners have come to trust Triple Net's company-wide
standard of outstanding service and integrity.
From our home office in Southern California and numerous regional
offices, Triple Net Properties manages a growing portfolio of over 30.9
million square feet of commercial properties including 3.4 million square
feet of multi-family properties with a combined market value of over $4.2
billion as of July 31, 2006. In addition, Triple Net Properties Realty,
Inc. is one of only 500 firms nationwide that have been awarded the
Accredited Management Organization (AMO) designation from the Institute of
Real Estate Management (IREM). Triple Net's size and flexibility also allow
us to seize opportunities that our larger, institutional competitors miss.
What's more, our creative, innovative approach to real estate finds value
in all sizes and types of properties, allowing us to provide products and
services to meet every investment need.
For more information about Triple Net Properties, please call
1.877.888.7348 or visit our website at http://www.1031NNN.com.
|
