PIVOTAL GROUP ACQUIRES 21 APT. COMMUNITIES

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MIDLAND, ODESSA AND LONGVIEW — Phoenix-based Pivotal Group Inc. has purchased 21 apartment communities located in Midland, Odessa and Longview, totaling more than 3,200 units. Pivotal acquired the properties through a joint venture with an institutional investor. Justin Lanne and Sandy Alter of Grubb & Ellis' Tucson, Ariz., office represented the seller, TRA Midland Properties, in the off-market transaction. Arbor Commercial Mortgage arranged the assumption of existing Fannie Mae debt. Pivotal plans to renovate the properties with upgraded interiors, pools and clubhouses. Orion Residential Management will provide property management services for the communities.

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