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Two Multifamily Properties Sold

Gaia Real Estate sold the 200-unit Eagle Crest and another multifamily property on the northeast side of Houston. CBRE represented Gaia.

HOUSTON – Mosaic Residential, a Houston-based multifamily investment and management company, has acquired two apartment communities in Humble on the northeast side of Houston.

Clint Duncan and Matt Phillips, senior vice presidents at CBRE, represented the seller, Gaia Real Estate.

The portfolio consists of two value-add multifamily assets: Eagle Crest and Timberlakes at Atascocita.

Eagle Crest is a two- and three-story, garden-style apartment community built in 1999 totaling 168,560 SF. The 200-units property features a 24-hour fitness center.  Eagle Crest is located at 5303 Atascocita Road.

Timberlakes at Atascocita is a 310,920-SF garden-style community with 312 units located at 18551 Timber Forest Drive. Built in 2000, community amenities include a business center and a fitness center.

New York-based Gaia Real Estate has acquired a number of Houston multifamily properties in recent years.

July 17, 2017 Realty News Report Copyright 2017

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