“Despite several issues that arose during the due diligence period, we closed the deal at the contract price. It was a great deal for both parties. There is a lot of money chasing deals in today’s market and with our buyer pool, we don’t have enough product to sell” says Carriera.
“Hidden River Grande exemplifies an ‘add value asset’. There were 91 down units with 61 of them needing significant rehab work. We have seen a tremendous amount of interest in this quality of an asset, attracting both long and short term owners,” commented Regan.