HOUSTON – Camden Property Trust, a Houston-based multifamily REIT led by Ric Campo, has sold the 337-unit Camden Midtown apartments, JLL Capital Markets reported.
The three-story apartment community is located at 2303 Louisiana Street, a couple of blocks south of the Pierce Elevated near Hadley Street.
JLL worked on behalf of the seller, Camden Property Trust. JLL also represented the buyer, Denver-based Bow River Capital, in securing a loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender.
The Midtown apartment community, built in 1999, is located just south of downtown Houston. The long-term future of Midtown is expected to be enhanced when the Pierce Elevated freeway is re-routed in about 10 years.
The Pierce Elevated freeway serves as the boundary between downtown and Midtown. Like the Berlin Wall, the Pierce Elevated has been almost an impenetrable barrier blocking corporate growth and commerce from downtown from jumping into Midtown.
When the Pierce is removed and the Midtown/Downtown border fades, the stage is set for quality redevelopment of several blocks of downtown land. The freeway improvements provide upside potential for Bow River Capital, the buyer of the Camden apartments.
“The acquisition represents an excellent opportunity in Houston’s dynamic Midtown district,” said JLL’s Dustin Selzer. “The property’s strategic urban location coupled with the fantastic job the team at Camden has done over the years maintaining and operating the building makes this a very special asset.”
JLL Capital Market’s Investment Sales and Advisory team was led by Dustin Selzer, Jett Lucia, Aziza Rehmatulla and Matt Kafka. JLL Capital Market’s Debt Advisory team was spearheaded by Leon McBroom ,Rob Bova and John David Johnson.
“The acquisition represents an excellent opportunity in Houston’s dynamic Midtown district,” said Selzer. “The property’s strategic urban location coupled with the fantastic job the team at Camden has done over the years maintaining and operating the building makes this a very special asset.”
Camden, which had its headquarters in Greenway Plaza for many years, recently moved its corporate offices into 104,000 SF in the 64-story Williams Tower adjacent to The Galleria mixed-use mall.
Camden owns and operates about 160 properties containing about 60,000 apartment homes across the United States.
Campo, chairman and CEO of Camden, founded the firm in 1993 with business partner Keith Oden. Campo has served as chairman of the Port Commission of the Port of Houston Authority and the Houston First Corp.
June 23, 2025 Realty News Report Copyright 2025
Image: Courtesy JLL
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File: Camden Sells Its Midtown Apartments CEO Ric Campo Camden Sells Its Midtown Apartments