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KBS Legacy Partners Apartment REIT Agrees to Lower Sales Price for Wesley Village

February 21, 2017

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KBS Legacy Partners Apartment REIT Agrees to Lower Sales Price for Wesley Village

February 21, 2017 | by James Sprow | Blue Vault

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The sales agreement for the sale of Wesley Village in Charlotte, North Carolina, and an adjacent 3.8 acre parcel of land by KBS Legacy Partners Apartment REIT to Bluerock Real Estate, LLC was amended on February 17, 2017 to reduce the sales price from $57.7 million to $57.2 million and extend the closing date to March 9, 2017 from February 28, 2017.

Wesley Village was purchased by the REIT in November, 2012, for $46.4 million. It had 301 apartment units as of September 30, 2016. As of that date the REIT owned 11 apartment properties with a total of 3,039 units that were 94.4 percent occupied.

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Matthew C. Strife
Blue Vault Services
April 11, 2016

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