Two apartment complexes, one in Southaven and the other in Horn Lake, are among properties that have been purchased by a Minnesota-based real estate investment concern.
Timberland Partners has acquired the 204-unit Savannah Creek complex, located at 385 Nail Road East, west of Elmore Road in Southaven. The firm also has purchased The DeSoto, a 253-unit complex located at Goodman Road West and Sutton Place in Horn Lake.
The acquisitions were announced by the firm of Cushman & Wakefield, which handled the transactions for the seller, McDowell Properties, a real estate investment company with offices in Dallas, New York, Miami, San Francisco and in Raleigh, N.C.
“Current ownership has successfully tested value-add viability throughout the properties,” Robbie O’Bryan of Cushman & Wakefield said in a news release. “These assets and the buyers will benefit tremendously with continued focus on the current renovation programs.”
Built between 1989 and 1995, the DeSoto County complexes are located in high-growth markets with exceptional employment gains and expanding key industries. They are also within minutes of quality retail and surrounded by dense job cores.
Cushman & Wakefield is a leading global real estate services firm and is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries.
Bob Bakken is Managing Editor for the DeSoto Times-Tribune.