HOUSTON – Sunstone Realty Advisors has purchased Broadstone Grand Parkway, a 342-unit multi-housing community in the far west Houston suburban area near Katy, Texas
HFF marketed the property on behalf of the seller, Phoenix-based Alliance Residential Company, and investors advised by Prudential Real Estate Investors.
Broadstone Grand Parkway is located at 1111 Falcon Park Drive about one mile south of Interstate 10 along Grand Parkway just east of Katy. The property, developed Alliance, was completed in 2010 and is 96 percent leased
The HFF investment sales team representing the seller included Todd Stewart, Craig LaFollette and Todd Marix, Tre Banks and Chris Curry.
HFF’s debt placement team representing the borrower included Matt Kafka and John Brownlee. Allstate Investments, LLC provided the fixed-rate acquisition loan.
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