Clover Ridge East is comprised of 23 apartment buildings, featuring units with desirable layouts and in excellent condition. The complex underwent a unit renovation program from 2009 to 2011 that included: new cabinets and granite countertops in all kitchens; bathroom upgrades with new vanities and cultured marble sinks; and new flooring throughout all units. The management office/clubhouse was also renovated last year. The property features high-end amenities including a party room with kitchenette and coffee station, business center, fitness center, sauna, locker rooms and heated outdoor pool.
“The multifamily market continues to attract investors as strong fundamentals and current lifestyle trends show no sign of changing,” said Jaeger, executive vice president at CBRE. “Renting continues to speak to a large portion of the population, and, for the foreseeable future, we think the rental market will continue to perform extremely well.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
About Kensington Realty Advisors
Kensington Realty Advisors, Inc. is a Registered Investment Advisor providing investment management and advisory services. Acting strictly as a fiduciary, its primary clientele includes institutional, pension, off-shore and high net worth investors. KRA is composed of a team of highly experienced real estate professionals with extensive backgrounds in real estate investment and asset management. The firm focuses on investments in apartments, student and senior housing and industrial property on a nationwide basis.