Buckley and Salvato of Endeavor Real Estate broker $29.8 million sale

 

 

Webster, NY Endeavor Real Estate Group completed the sale of Country Manor Apartments, a 328-unit garden style apartment complex located at 185 Country Manor Way. The sale price was $29.8 million. Endeavor’s James Buckley and Patrick Salvato facilitated the transaction.

“A collaborative effort guided by our strong relationships with all parties involved led to a successful acquisition and exit for the purchaser and seller respectively. We are continuing to see tremendous demand for multifamily product to close out the year, and this transaction was certainly an accurate reflection of the current velocity and activity within the sector,” said Buckley, managing principal of Endeavor.

The purchaser, a partnership between PH Realty Capital and Rockledge, plans to capitalize on significant value-add potential through interior unit modernizations and upgrading amenities, and will realize substantial upside through increasing occupancy levels. The $91,000 per unit price point sets the bar for the highest price per unit for a multifamily property of this vintage in this submarket.

Built in 1967, Country Manor Apartments features a mix of one and two bedroom garden style apartment units with spacious layouts, stainless steel appliances, and in-unit laundry. Community amenities include a leasing office with shared conference room, fitness center, pool, picnic areas, tennis courts, a dog park and more. The property’s ideal suburban location allows for easy access to expressways, grocery stores and scenic parks, all positioned within a consistently top-ranked area school district.

Endeavor Real Estate Group is a commercial real estate brokerage and advisory firm headquartered in Rochester, New York specializing in investment sales. The company serves corporate, institutional, and individual investors, occupiers, and owners within all facets of the industry across all commercial real estate product types on local, regional, and national levels. Experienced in all categories of commercial real estate, Endeavor offers strategic advisement to clients on investment sales, corporate services, investment sourcing, site selection, tenant representation, location strategy, transaction management, and development marketing.