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Gelt Sells The Huntington Apartments

On September 29th, 2015, escrow closed for the sale of the Huntington Apartments in Tempe, Arizona. The 442 unit property was sold by Gelt for $34,600,000 ($78,280/unit and $99/sf), just 18 months after Gelt's acquisition of the property back in April of 2014. The sale of the property netted Gelt investors a cumulative return of approximately 54% and an annual return of approximately 36% over the ownership period. In addition, Gelt investors will receive an excess distribution in the months to come.

To learn more details on the ownership and sale of the Huntington, please click here to read the property case study.

Gelt was founded by cousins Keith Wasserman and Damian Langere during the height of the economic recession and financial meltdown in 2008. Gelt?s business plan is to acquire and re-position value-add multifamily real estate investments.

Gelt is committed to providing investors with quality, cash-flowing investment opportunities and is seeking to acquire multifamily, retail, and mobile home park properties in the Western United States with an emphasis in California, Utah, Nevada, Arizona, Colorado, and Oregon.

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