NKF Brokers Sale of 304-Unit Preserve at Old Dowlen Apartments in Beaumont
BEAUMONT, TEXAS — Newmark Knight Frank (NKF) has brokered the sale of The Preserve at Old Dowlen, a 304-unit apartment community in Beaumont. Built in 2008, the property offers one-, two- and three-bedroom units with stainless steel appliances, built-in desks and individual washers and dryers. Amenities include a pool and a clubhouse with a business center. Brad Shaffer and Brandon Miller of NKF represented the seller, Houston-based Venterra Realty, in the transaction. Purvesh Gosalia of NKF secured an undisclosed amount of Fannie Mae acquisition financing for the buyer, Miami-based LPI Holdings. The loan was structured with a 12-year term and a fixed interest rate.