Florida/Texas Multi-Family Portfolio on the Block as Note or REO

[Norman Sutton]

Portfolio of several complexes in Florida and Texas, 2,393 Class B and C apartments, 80 % occupancy, NOI (2009) $10,904,000, Distressed sale. Most recent appraised valuation $159,900,000 Purchase as a note for $10 M or REO for $73 M (both +3)

For full details email me at [e-mail]

[Campbell Dosch]

Norman we would be interested in looking at the complexes and buying on a one-off basis, (1 or 2) but not the entire portfolio of $159 million.  If that is possible, let me know.  Thanks,