Paul Yazbeck Of The Multifamily Group Facilitates Sale Of Athens Reserve Apartments In Athens
2050 State Highway 31 E
Summary
The Athens Reserve Apartments in Athens, Texas, with 122 units and commercial space, situated at 2050 State Highway 31 E on 11 acres, was sold to a Dallas-based Multifamily Developer by The Multifamily Group (TMG). The property was quickly sold after being rezoned for planned development. The buyer showed commitment by providing earnest money upfront, planning a significant renovation project to rejuvenate the vacant property, and enhancing housing options in the city known for its agricultural heritage and small-town charm.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Units: 122
- Acres: 11
- Address: 2050 State Highway 31 E
- Market: Athens
Managing Partner Paul Yazbeck from The Multifamily Group (TMG) played a crucial role in facilitating the sale, ensuring a seamless transaction process. The buyer, a Dallas-based Multifamily Developer, expressed plans for a major revitalization project, focusing on modernizing the property through a multi-million dollar renovation. This effort is aimed at meeting the demand for new housing options in Athens while preserving the city's unique blend of agricultural tradition and modern urban conveniences.
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