Logan Place

Built: 1971 - 86 Units

Challenges:
The property had a checkered past with bad financials due to management turnover. The owners had started a partial reposition play on the asset. The challenge was finding a buyer who was strong enough to take on the repositioning. 

Solution:
HFO sourced multiple regional buyers using our extensive database of contacts and the property received multiple offers from highly qualified parties able to continue rehabilitation of the building. These potential buyers were strong enough to obtain a loan without the property's financials supporting it. 

Results:
Logan Place Apartments closed with a regional buyer able to work within the seller's time frame.