Hines Buying Museum District Apartments for $72.9 Million
HOUSTON – (Realty News Report) – Hines Global Income Trust has agreed to buy the 224-unit Venue Museum District apartments for $72.9 million or $325,400 per unit.
The seller of the property, 5353 Fannin, is Grayco Lui Museum District Investment. The seven-story community is 89 percent leased.
The deal, funded with $1.5 million in hard earnest money, is expected to close in September, Hines reported. The purchase includes an adjacent land parcel.
Aug. 30, 2018 Realty News Report Copyright 2018