HOUSTON –White Oak Partners, LLC purchased the Colorado Club Apartments, a 300-unit multi-housing community near the Houston Ship Channel in east Houston. The Ship Channel is experiencing significant blue-collar employment growth as petrochemical spend billions for new chemical plants and plastic production facilities.
HFF marketed the property on behalf of the seller, Capital Equity Group.
Colorado Club is situated on 10 acres at 794 Normandy Street two miles north of the Houston Ship Channel and Port of Houston, and 9.7 miles east of downtown Houston. The property is 98 percent leased with units averaging 753 square feet each. The HFF investment sales team representing the seller was led by director Chris Curry, senior managing directors Todd Marix and Todd Stewart and director Tre Banks.
“Colorado Club Apartments has an ideal location in a strengthening submarket of Houston that has no new supply coming online,” said Curry. “Over the next three years, $35 billion will be invested into the Port of Houston, ultimately creating more than 250,000 jobs and increasing demand for housing.”
Capital Equity Group, Inc, is a private real estate investment firm headquartered in Cleveland, Ohio. White Oak Partners of Columbus, Ohio is a leading privately held sponsor of national, multi-family real estate investments. White Oak Partners acquires, owns and manages a portfolio of apartment communities and is actively pursuing multi-family investment opportunities across the U.S., with a particular focus in the southeast and southwest.