The Multifamily Group Brokers Sale Of 280 Unit Multifamily Properties In Lubbock, Texas

The sale involved a multifamily asset located at 3201 West Loop 289 & 5820 34th Street in the Lubbock market, comprising a total of 280 units. The properties included in this transaction were built in 1983 and 2014, and they are situated near Texas Tech University, UMC Hospital, and Lubbock's only Costco, which supports strong long-term fundamentals.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not specified
• Units: 280
• Broker: The Multifamily Group
• Market: Lubbock
• Note: The buyer completed a 1031 exchange and assumed existing Fannie Mae financing.

The Multifamily Group facilitated the transaction, representing the parties involved. The deal notably reflects a strategic investment choice, aligning with the region's fundamentals and proximity to key local assets.