BREAKING NEWS

RNR Real Estate Briefs – HOU, AUS, DAL & more

Hines Lands Berg Restaurant in Downtown Tower

Harold Farb Skyscraper Sold

Hotels Sold for $137 Million

High Mortgages Frustrate Buyers

RNR Real Estate Briefs – HOU, AUS, DAL & more

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Class C Multifamily Purchased by PPA Group and Israeli Investors

by Realty News ReportApril 25, 2017
Share0

HOUSTON – The PPA Group of Austin, in partnership with an Israeli investment group, has acquired the 236-unit Citation North Apartments on Highland Cross Drive in north Houston.

Grandbridge Real Estate Capital facilitated the deal for the Class C project. Under its new ownership, the property will be renamed Highland Cross Apartments.

“The current economic climate is driving a need for more affordable multifamily housing in Houston,” said John Latham, chief investment officer of PPA. “We’ve been noticing this trend for nearly a year now. It’s no surprise the international community is seeing it, too.”

According to research released December 2016 by Greater Houston Partnership, from 2010 to 2014 Houston added nearly half a million jobs. The city has continued to post 12-month net job gains throughout 2015 and 2016. The service industry is among the largest growing sectors, with four out of five workers in the Houston area employed in a service field.

At the same time, homeownership is down nationwide in response the recent recession and real estate market crash. In 2015, the U.S. Census Bureau reported the share of the U.S. population who own homes had slid to 63.4 percent — a 48-year low. Millennials have contributed in large part to this decrease by renting 2.6 years longer on average than earlier generations according Zillow real estate data.

April 24, 2017 Realty News Report Copyright 2017

Share0
previous post
Site Work Begins on Massive Amazon Project, Says Growth Hunter Chris Caudill
next post
Houston’s Immigrants Highlighted in ULI Study: Some Immigrant Groups Outpacing Native-Born Population in Home Ownership

Related posts

RNR Real Estate Briefs – HOU, AUS, DAL & more

Realty News ReportMarch 31, 2023

Hines Lands Berg Restaurant in Downtown Tower

Realty News ReportMarch 30, 2023

Harold Farb Skyscraper Sold

Realty News ReportMarch 29, 2023March 30, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
STREAM Ad
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact