David Choe And Alex Schneider Of Clover Capital Partners Acquire 256-Unit Multifamily Property In Tyler

The asset involved in this transaction is a multifamily property located at 400 Old Grande Boulevard in Tyler, TX. The property consists of 256 units and was built in 1984. It presents value-add potential through unit upgrades.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not disclosed
• Buyer: David Choe & Alex Schneider - Clover Capital Partners
• Seller: Harry Bookey & Joanna Zabriskie - BH Equities
• Brokers: Drew Kile, Joey Tumminello, Michael Ware & William Hubbard - Institutional Property Advisors
• Mortgage Brokers: Brian Eisendrath, Cameron Chalfant & Harry Krieger - Institutional Property Advisors

Clover Capital Partners acquired The Woodlands property from BH Equities, with the transaction brokered by Institutional Property Advisors. IPA Capital Markets arranged seven-year fixed-rate financing for the deal.