News
Pure Multi-Family REIT Sells Texas Apartment Complex
September 27, 2016
Pure Multi-Family REIT has reached a deal to sell Livingston Apartments, a 180-unit complex on 11.8 acres in Plano, TX, for US$34.3M. The sale is expected to close next month. The Vancouver-based REIT acquired Livingston in 2013 for US$25.5M. Having executed valued-add initiatives at the complex, built in 1998, CEO Steve Evans said the trust’s intention is to reinvest the profits into another quality asset. In August, Pure Multi-Family sold Fairways at Prestonwood in Dallas, TX, for US$22.8M. Last December, it sold Windsong Apartments, also in Dallas, for US$22M.
