HOUSTON – (Realty News Report)– Goldman Sachs Asset Management Private Real Estate has acquired the Retreat at Shadow Creek Ranch, a 370-unit multifamily asset in Pearland.
Senior Managing Director Ryan Epstein and Director Jennifer Ray of Berkadia’s Houston office arranged the sale on behalf of Inland Private Capital Corporation, a real estate investment firm based in Oak Brook, Ill.
Built in 2013, Retreat at Shadow Creek Ranch is located at 2500 Business Center Drive, just west of Highway 288, close to Memorial Hermann Pearland Hospital and a significant amount of retail.
A toll road, part of Highway 288, is under construction and will connect the area to the Texas Medical Center.
Opportunities to construct more multifamily are limited, creating an opportunity for long-term growth and value appreciation for the owners of the existing multifamily, said Epstein.