HOUSTON – (Realty News Report) – REEP Equity and Hashem Holdings have acquired the 128-unit Candleridge Park Apartments in Houston – which is a hotbed for investors, JLL said.
“Houston is one of the hottest markets in the US for multifamily investors,” said JLL senior vice president CW Sheehan. “The rental market remains strong thanks to a thriving energy sector, significant job gains, and population increases which has given way to increased rental rates and returns for investors as vacancies continue to lessen. Candleridge Park’s central location and accessibility to employers provides a fantastic investment opportunity for the new owners.”
JLL’s Mark Brandenburg and CW Sheehan secured the financing for the Candleridge Park acquisition from Fannie Mae.
The recently renovated apartment property is located at 1601 Wooded Pine Drive. Onsite amenities include a swimming pool, outdoor kitchen, business center, playground and dog park.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.