Endeavor Real Estate brokers sale of Country Manor Apartments

Webster, NY Country Manor Apartments, a 328 unit garden style apartment community, sold on August 11^th. The seller, PH Realty Capital, is a private equity real estate company. The purchaser, Morgan Properties, is the third-largest owner of apartment communities in the country owning over 100,000 units across more than 350 properties in 19 states.

The sale was brokered by Endeavor Real Estate Group, a boutique commercial real estate brokerage and capital markets advisory firm headquartered in Rochester.

“This transaction is yet another example of the extremely high demand for large scale multifamily assets throughout New York State — a trend we expect will only intensify in the coming months as interest rates improve and housing supply constrain persists,” said Patrick Salvato, Endeavor’s vice president of investment sales.

“It was our privilege to have advised the seller and purchaser in facilitating this transaction; marking a strategic exit at an opportune time for the seller, and a thoughtfully executed acquisition for the purchaser who adds another asset to their already impressive holdings in the region,” said James Buckley, managing principal of Endeavor.

Built in phases between the late 1960s and early 1970s, Country Manor Apartments features a mix of one and two bedroom garden style apartment units, 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.