ARA BROKERS TWO MULTIFAMILY SALES IN BEAUMONT AND PORT ARTHUR

BEAUMONT AND PORT ARTHUR — Atlanta-based ARA, a national investment advisory firm focused on the multifamily industry, has arranged the sale of two multifamily communities, The Preserve at Old Dowlen in Beaumont and Normandy Townhomes in Port Arthur. Located at 5350 Old Dowlen Rd. in Beaumont, The Preserve at Old Dowlen was built in 2008 and features 304 units. Meanwhile, Normandy Townhomes is located at 3800 Normandy Ave. in Port Arthur. Built in 1975, it features 143 units. Jeff Patterson and Jon Boone of ARA's Austin office represented the sellers of both assets. An undisclosed Houston-based national investment group sold The Preserve at Old Dowlen, while a private investor, also undisclosed, sold Normandy Townhomes.