(PRWEB) June 21, 2011
Reliance Capital Partners, LLC is pleased to announce the acquisition of Spring Manor Apartments located in Ocala, Florida. The property operates as 160 unit Section 8 affordable housing community covered by a Housing Assistance Payment contract administered by HUD. Reliance Capital Partners acquired the property in February of 2011 as part of a multi-property acquisition. Debt financing was provided by Wells Fargo Bank and Fannie Mae.
Royal American Management has been awarded the management contracts for the property.
Reliance Capital Partners can be contacted at their Los Angeles offices:
Reliance Capital Partners
1875 Century Park East
Los Angeles, CA 90067