Valora at Homewood: Difference between revisions
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The '''Valora at Homewood''' ( | The '''Valora at Homewood''' (formerly '''The Overlook at Homewood''') is a 722-unit apartment complex at 915 '''Valley Ridge Drive''' on the north side of [[Valley Avenue]] in [[Homewood]]. It was developed in two phases in the late 1960s and late 1970s. | ||
In [[2016]] CLK Properties of New York sold the complex to Lurin Real Estate Holdings of Dallas, Texas for $35 million. That company renovated 90% of the units over the next three years | The Landmark Properties Trust sold the complex along with five others to the Collins Group of Brooklyn, New York in a $138 million deal in [[2006]]. Collins defaulted on its loan within two years. A court-appointed receiver, GlassRatner of Atlanta, Georgia, appointed [[Engel Realty Co.]] to manage the complex. | ||
In [[2016]] CLK Properties of New York sold the complex to Lurin Real Estate Holdings of Dallas, Texas for $35 million. That company renamed the complex, commissioned [[Arlington Properties]] to manage it, and renovated 90% of the units over the next three years at a cost of $10 million. In [[2020]] the complex was purchased by Brick Lane of Washington D.C. for $82 million. | |||
==References== | ==References== | ||
* Cooper, Lauren B. (November 2, 2008) "N.Y. landlord in legal battle over local apartment portfolio." {{BBJ}} | |||
* Ostroff, Jamie (May 25, 2016) "Homewood apartment complex with alleged mold, maintenance issues accused of evicting residents who speak out." CBS42.com | |||
* "Arlington Properties announces the renovation and management of Valora at Homewood." (February 2017) Arlington Properties | |||
* Van der Bijl, Hanno (November 30, 2020) "Homewood property sells for $82M." {{BBJ}} | * Van der Bijl, Hanno (November 30, 2020) "Homewood property sells for $82M." {{BBJ}} | ||
Latest revision as of 16:23, 1 December 2020
The Valora at Homewood (formerly The Overlook at Homewood) is a 722-unit apartment complex at 915 Valley Ridge Drive on the north side of Valley Avenue in Homewood. It was developed in two phases in the late 1960s and late 1970s.
The Landmark Properties Trust sold the complex along with five others to the Collins Group of Brooklyn, New York in a $138 million deal in 2006. Collins defaulted on its loan within two years. A court-appointed receiver, GlassRatner of Atlanta, Georgia, appointed Engel Realty Co. to manage the complex.
In 2016 CLK Properties of New York sold the complex to Lurin Real Estate Holdings of Dallas, Texas for $35 million. That company renamed the complex, commissioned Arlington Properties to manage it, and renovated 90% of the units over the next three years at a cost of $10 million. In 2020 the complex was purchased by Brick Lane of Washington D.C. for $82 million.
References
- Cooper, Lauren B. (November 2, 2008) "N.Y. landlord in legal battle over local apartment portfolio." Birmingham Business Journal
- Ostroff, Jamie (May 25, 2016) "Homewood apartment complex with alleged mold, maintenance issues accused of evicting residents who speak out." CBS42.com
- "Arlington Properties announces the renovation and management of Valora at Homewood." (February 2017) Arlington Properties
- Van der Bijl, Hanno (November 30, 2020) "Homewood property sells for $82M." Birmingham Business Journal
External links
- Valora at Homewood website