The $43 million acquisition of an upscale apartment complex off Rieger Road, near Siegen Lane and Interstate 10, tops Business Report’s list of the priciest commercial real estate deals so far this year.
CLK Properties, a real estate management and development company from Woodbury, New York, purchased the Cypress Lake Apartments in May.
The complex—marketed as resort-style living—was built in 2002 and has 314 one-, two-, and three-bedroom units. Amenities include a 13-acre lake, volleyball court, business center, clubhouse and two resort-style pools.
CLK Properties declined to comment at the time of the acquisition and did not respond to requests for comment today.
Also making the list—published before Atlanta-based Audubon Communities bought the St. Jean Apartments for $33 million—is the $9.5 million purchase of the Copper Ridge Apartments. That deal is ranked No. 2.
Rounding out the top five are the $8.5 million acquisition of Magnolia Trace Apartments, the $8.1 million purchase of the Hilton Garden Inn, and DSLD Home’s $5.7 million purchase of 105 lots in the Rose Garden Subdivision.
Check out the full ranking of commercial real estate deals by price in the current issue of Business Report.
