Kushner acquired The Clare Apartments in Southaven, Mississippi for $45,125,000.
This marks the firm’s fifth acquisition in the state as they pursue a long-term strategy of national expansion.
The Clare Apartments consists of 352 units and is located less than 20 minutes from Downtown Memphis.
Kushner first planted a flag in Mississippi earlier this year, and with this acquisition, will own and manage more than 2,100 units between Mississippi and neighboring Tennessee.
“This purchase represents a strategy of planting a flag in a new geographical location, followed by additional local acquisitions to take advantage of economies of scale,” said Riley Wilson of Kushner, who
spearheaded the deal. “We are continuously looking to expand in this market.”
The property features a full suite of outdoor fitness spaces, including a swimming pool, tennis court, and volleyball court, as well as a business center, dog park, and picnic area.
The Clare Apartments is centrally situated between Northwest Mississippi Community College, Tanger Outlets Southaven, and Landers Center. The property will be rebranded as “Southaven Pointe.”
Newmark was the broker for the deal.