THE MICHAEL B. SMUCK APARTMENT FLIPS BEGIN Triumph Land & Capital Management, the company that bought two other former Smucked apartment complexes, has already flipped a third: “‘The seller had bought the loan on Village at Loch Katrine, then foreclosed on it, then sold the property,’ says Russell D. Jones, vice president of Apartment Realty Advisors in Houston. He says Andrew Chong had signed the purchase agreement before Triumph Land & Capital foreclosed on the loan. Although Jones kept mum about the price, area sources believe the Village at Loch Katrine, situated at 16545 Loch Katrine Lane, sold for $6.5 million to $7 million.” [Globe St.; previously]
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I heard that Triumph Capital has recently hired the son of Michael Smuck, Vice President of the failed MBS Companies. Looks like he is buying and selling properties to himself.
http://www.sec.gov/litigation/litreleases/lr18461.htm Maybe the same company? Wouldn’t surprise me… I worked for Smuck and he is a snake who has and will slither his way back into more unsuspecting investor’s deep pockets.
Those apartments need to be torn down. They are a piece of trash. Nothing works properly, and then the want to charge late fees and (WATER), when half of the time you don’t have any hot water, then sometimes you don’t have cold water. I can’t wait for my lease to be over. BIGGEST MISTAKE I EVER DID WAS MOVE IN THERE!!!!!!!!!!!!!!