SARASOTA, Fla., Feb. 5, 2019 -- InvestRes has purchased 'Oakwood Apartments', a multifamily property located in the Whitfield submarket of Sarasota, Florida. Oakwood, a 148-unit community, will be managed by InvestRes' in-house property management division, ResProp Management.

Oakwood is a high quality community constructed in 2015, offering one- to three-bedroom apartment homes with floor plans of 730 to 1,229 square feet. The transaction includes an assumable, long-term fixed rate HUD loan. 25% of the property units' rents are subject to affordable restrictions based on the submarket's median income levels, which pairs with the area's high demand for quality, workforce housing.

About InvestRes:
Since 2010, InvestRes has acquired over 17,000 apartment homes throughout FloridaTexasArizona, and Colorado. InvestRes will continue to opportunistically purchase and redevelop multifamily properties in targeted markets into 2019. InvestRes is a vertically integrated company, handling acquisitions, property management, construction management, debt placement, and portfolio management in-house. InvestRes aims to provide premier service to investors and owners of residential real estate.

Media Contact:
Dominique Song