HOUSTON – (Realty News Report) – Satya Inc., a Houston-based commercial real estate development and consulting firm, has sold its 12-acre tract in Katy to Davis Development, an Atlanta-based multifamily development firm.
The property is at the northwest corner of Morton Ranch and the Grand Parkway. Berkadia represented Davis Development, which has a portfolio including six multifamily communities in Houston, in addition to other apartments in Georgia, Florida, Denver and the Carolinas.
Satya, which was founded in 1999 by Sunny Bathija and Ameen Ali, was represented by Edge Realty Partners in the land transaction. In a separate transaction last fall, Satya partnered with Stoltz Partners to acquire the 500-acre Moran Ranch near Willis and FM 1097 for a development north of Houston.
The Inner Loop of Houston – including The Heights, Washington Avenue and Montrose – are currently leading the Houston area in multifamily construction, says Bruce McClenny, president of ApartmentData.com. However, Katy and other suburban areas have land prices that allow developers to build apartments with more attainable rents, McClenny said at the annual Houston Apartment Association breakfast Tuesday at the new Westin hotel in the Medical Center.
Jan. 30, 2020 Realty News Report Copyright 2020
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