As a plugged-in resident reports, the bulk sale of Argenta (1 Polk Street) which had been built as condominiums, was unsuccessfully marketed for sale in 2008, and turned rental in 2009, has closed escrow with Dallas based Behringer Harvard Multifamily REIT acquiring the property from the bank.
The sale of the 179-unit building has been in the works since February 11 when Behringer Harvard first entered into an agreement to purchase the property for $94 million excluding closing costs.
Our tipster also notes: “I recently received an offer to renew my lease for another year.”
UPDATE: As noted buy a plugged-in reader and since corrected, while Australian based Anka developed the property, Behringer Harvard purchased the property from “MacQuarie Argenta Inc.,” a holding company for the construction lender who financed the project.
∙ Argenta (1 Polk): Ground Breaking [SocketSite]
∙ The Scoop: Argenta (1 Polk) On The Market As An Apartment Building [SocketSite]
∙ The Official Argenta (One Polk) Offering Image And Language [SocketSite]
∙ The Argenta (1 Polk) Scoop Redux: Riverstone Residential To Manage [SocketSite]
∙ The Rather Ironic “Argenta Silver Lining”: Now Leasing At One Polk [SocketSite]