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KBS Legacy Partners Apartment REIT to test market appetite for 11 properties

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KBS Legacy Partners Apartment REIT to test market appetite for 11 properties

KBS LegacyPartners Apartment REIT Inc. engaged Holliday Fenoglio Fowler LP tomarket for sale an 11-property, 3,039-unit multi-housing portfolio spreadacross several U.S. markets.

The properties in the portfolio include in EdenPrairie, Minn.; PoplarCreek in Schaumburg, Ill.; Legacy at Martin's Point in Lombard, Ill.; in St. Louis; Legacy atValley Ranch in Irving, Texas; Crystal Park at Waterford in Frederick,Md.; The Residence atWaterstone in Pikesville, Md.; Legacy Grand at Concord in Concord, N.C.;Wesley Villagein Charlotte, N.C.; LegacyCrescent Park in Greer, S.C.; and Millennium Apartment Homes in Greenville,S.C.

The portfolio, which aggregates over 3 million rentablesquare feet, could be acquired in its entirety, as a subset of pooled assets orindividually. It is being offered on a free and clear basis.

In April, the REIT hireda financial adviser to assist the company and its special committee withexploring strategic alternatives.