Farmington Hills, MI (Profitable.com) Agree Realty Corporation (NYSE: ADC) (the…
Las Vegas, NV (Profitable.com) The Wolff Company, LLC, announced today its acquisition of the 3,098-unit “Oasis Portfolio,” comprised of 14 apartment communities located throughout metropolitan Las Vegas.
“This portfolio represents an excellent mix of assets with strong in-place operations and a potential value-add opportunity as the market continues its recovery,” said Fritz H. Wolff, CEO of The Wolff Company. “We are continuously seeking similar opportunities nationally.”
The Wolff Company focuses on the multifamily sector and makes investments nationally, with a regional emphasis on the West Coast and the Boston to D.C. corridor. Wolff has been acquiring, developing and managing multifamily assets for more than 60 years.
The seller, Sierra Nevada Multifamily Investments, LLC, is a joint venture between DRA Advisors on behalf of an institutional client, and a subsidiary of Camden Property Trust.
“Wolff executed on the closing of the transaction quickly and consistently with the terms negotiated at the onset of the transaction,” said Bob Fisher, General Counsel of Camden and a representative of the seller.
About The Wolff Company
The Wolff Company, a national real estate private equity firm with 60 years of operating experience, focused on the acquisition and development of institutional quality multifamily assets. Contact us at (480) 315-9595 or visit us online at awolff.com.
About DRA Advisors
DRA Advisors is a registered investment advisor specializing in real estate investment and management services for institutional and private investors. DRA currently has over $10.5 billion in assets under management, including over 145 apartment communities.
About Camden Property Trust
Camden Property Trust, an S&P 400 Company, is a real estate company engaged in the ownership, development, acquisition, management and disposition of multifamily apartment communities. As of March 1, 2013, Camden owned interests in and operated 192 properties containing 65,005 apartment homes across the United States. Camden was recently named by FORTUNE Magazine for the sixth consecutive year as one of the “100 Best Companies to Work For” in America, ranking #10.